Saturday, September 13, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Libya

NOC Acquires 50% Stake in Libyan-Norwegian Fertilizer Company

January 4, 2021
Share on FacebookShare on Twitter

On Monday, the Libyan National Oil Corporation (NOC) announced that it has acquired the Norwegian Yara’s 50% stake in the Libyan-Norwegian for Fertilizers Company.

Yara’s full legal ownership interest in LIFECO together with “all economic rights and all obligations and liabilities attaching or relating thereto are transferred to NOC as of 31 December 2020.”

Prior to this agreement, Yara owned 50% of LIFECO, while NOC and LIA each held a 25% stake. Yara’s book value of the investment is zero, and it expects to book a minor pre-tax gain in its fourth-quarter 2020 results following the transaction.

“By the grace of God whom we thank, on Thursday 31/12/2020, the National Oil Corporation acquired the 50% participation of Yara, the Norwegian company,” the NOC said in a statement.

“The ownership of the ammonia and urea plants has been returned in full to the Libyan state with 75% to the National Oil Corporation and 25% to the Libyan Investment Authority,” the statement added.

The statement pointed out that Libya will conduct the necessary maintenance work to restart the plants.

Tags: CompanyFertilizerlibyanocNorwegianStake
Next Post

Libya to Begin Second Phase of Mega Gas Field

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Could Turkey Use Military Power to Enforce Its Maritime Deal With Libya?

Libya Faces $750 Million Annual Losses From Fuel Smuggling

Belgassem Haftar Holds Talks with Italian Intelligence Chief in Benghazi

Benghazi Hosts Italian Delegation for Medical Services Development

Saddam Haftar Meets Egyptian Tribal Leaders in Benghazi

Benghazi Electricity Projects Enter Final Stages

EDITOR PICKS

Benghazi Electricity Projects Enter Final Stages

Could Turkey Use Military Power to Enforce Its Maritime Deal With Libya?

Benghazi to Host 1st Arab Media Conference in 2025

Benghazi Hosts Italian Delegation for Medical Services Development

Libya Faces $750 Million Annual Losses From Fuel Smuggling

New Oil Technicians Graduate to Support Libya’s Energy Sector

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR