Most Environmentally Friendly Refinery Coming to Libya
Zwara Oil Refining Company (owned by the Libyan Government) has appointed HSBC Bank as the financial advisor for a new oil refinery in north-western Libya. This will be the first major government-sponsored project that will be commercially financed. It will refine about 200,000 barrels per day of crude oil and will use existing infrastructure, especially with the Libya Oil Holding company and Tamoil to distribute it regionally as well as internationally. Dr. Shamekh, chairman of the company states that “This project will be the most environmental friendly refinery ever built.” He also goes on to state that the refinery will service local, regional and international markets as well as the fact that this is the first “commercially structured project [...] costing around $4 billion.”
David Crowley
