Tripoli: The Chairman and members of the Board of Directors of the National Oil Corporation (NOC) reviewed the results of an economic feasibility study conducted by the American company Honeywell UOP for the development of the Zawiya refinery.
According to Libyan News Agency, the results from Honeywell UOP were described as very encouraging, indicating a significant potential for developing the refinery and modernizing its operational systems. This modernization is expected to enable the refinery to meet a large portion of the local market’s gasoline needs.
The study’s findings suggest that updating the refinery will play a crucial role in reducing Libya’s dependence on fuel imports and the financial burden associated with subsidizing imported fuel. This, in turn, is anticipated to enhance economic stability in the region.
Additionally, the meeting covered broader topics related to the development of the oil industry in Libya. There was an emphasis on the necessity of regular maintenance for refineries and their components to ensure continuous production and avoid disruptions or temporary shutdowns.