10-03-09 Libya's National Oil Corporation (NOC) has set up a joint venture company with a UAE energy consortium to develop the Ras Lanuf oil refinery in Libya.
NOC chairman Shokri Ghanem signed the agreement, setting up the Lirco company with capital of $ 375 mm, with Isa Abdullah al-Ghurair, deputy chairman of the UAE's Trusta group.

The parties signed initial agreements last year on improving the 220,000-bpd Ras Lanuf plant.