A ten-year international legal dispute is resolved as Libya’s most strategic refinery complex returns to full national control
Libya’s National Oil Corporation (NOC) has signed an agreement with Trasta Energy — part of the United Arab Emirates-based Al Ghurair Group — to dissolve their joint partnership in the Libyan Emirates Oil Refining Company (LERCO), the operator of the strategically vital Ras Lanuf refinery.
The agreement, signed by NOC Chairman Masoud Suleman, concludes a decade-long partnership and transfers all shares held by Trasta Energy in LERCO back to the NOC. The deal resolves long-standing international legal disputes that had weighed on Libya’s oil sector and returns control of the Ras Lanuf complex entirely to Libyan hands.
NOC Chairman Suleman described the agreement as a significant milestone, emphasising that it paves the way for the restructuring and operation of the Ras Lanuf complex under full Libyan management. He underscored the outcome as a testament to Libya’s ability to reclaim and manage its strategic energy resources.
The development comes as Ras Lanuf undergoes a broader operational revival. In January 2025, the Ras Lanuf Oil and Gas Processing Company restarted the second production line of the polyethylene plant at the refinery following a 12-year shutdown. By October 2025, efforts were also underway to restart the ethylene plant following extensive maintenance by local technical teams, with initial phases involving the introduction of naphtha into thermal cracking furnaces and activation of the main compressor.
Sources: offshore-technology.com