The Chairman and members of the Board of Directors of the National Oil Corporation (NOC) held an extensive meeting this morning at NOC headquarters with the Chairman and members of the Zawiya Oil Refining Company’s Management Committee to discuss the results of the economic feasibility study prepared by the American company Honeywell Uop on the development of the Zawiya refinery and modernisation of its systems.
The meeting reviewed the results of the study, which the Corporation described as very encouraging, as it confirmed the possibility of developing the refinery to meet a large part of the local market’s needs for petrol. This step will reduce the amount of money allocated to fuel imports, thus enhancing economic stability in this vital sector.
The meeting also discussed mechanisms to develop the Libyan oil industry in general, emphasising the importance of adhering to the regular maintenance of refineries and their accessories in a timely manner to ensure the continuity of production and avoid stumbling or temporary stoppages.