National Oil Corporation terminates decade-long partnership, resolving legal disputes and restoring Libyan oversight of key refining assets.
Libya’s National Oil Corporation (NOC) has ended its partnership with Trasta Energy, retaking full control of the Ras Lanuf refinery. The agreement, signed by NOC chairman Masoud Suleman, transfers all shares held by Trasta Energy in the Libyan Emirates Oil Refining Company (LERCO) back to NOC, concluding a decade-long collaboration.
The move resolves long-standing international legal disputes that have impacted Libya’s oil sector. NOC emphasized the significance of reclaiming strategic assets, enabling future rehabilitation and development under local management. The refinery’s polyethylene plant also restarted a second production line in January 2025 after a 12-year shutdown, boosting output.
The transition is expected to enhance operational efficiency and address domestic demand for petrochemicals, a critical component of Libya’s economic recovery.