Star in Libya

by This email address is being protected from spam bots, you need Javascript enabled to view it on Thursday, 24 July 2008

zoom

(google.co.uk)

The Star Consortium last week concluded a shareholder agreement with the National Oil Company (NOC) of Libya to form a joint venture company to purchase and upgrade its Ras Lanuf refinery.

TransAsia Gas International, a subsidiary of Al Ghuair Investments, and Star Petro Energy, part of Dubai based ETA Ascon Star Group, make-up the Star Consortium which will hold a 50 per cent share of the Joint Venture Company along with NOC of Libya.

At present, Ras Lanuf refinery produces 10 million tones of refined petroleum products per year. As part of the US $2 billion project such quantities are expected to increase. Work has already begun on the project, expected to be completed within five years.