Libya’s NOC says Paris court confirmed that LERCO must pay NOC $115 million plus interest

News

Posted – 02nd March 2021

CAIRO, Feb 28 (Reuters) – Libya’s National Oil Corp (NOC) said on Sunday that a Paris court of appeal had upheld an award by a court of arbitration against Libyan Emirates Oil Refining Company (LERCO) regarding the Ras Lanuf refinery in Libya.

NOC said on its Facebook page that the appeals court had confirmed that LERCO must pay NOC over $115 million plus interest. It said this came to $132 million, as of Feb. 28.

“NOC will take all necessary steps to enforce its rights under the award and the court’s decision,” it added.

REUTERS

The Libya Consultancy does not imply any association with, nor endorsement by or of the publisher of this article

News & Updates

National Oil Company: March revenues exceeded $ 2 billion. – Arraed LG+ https://www.arraedlg.com/national-oil-company-march-revenues-exceeded-2-billion/

In light of the surge in commercial activity this may help those wishing to engage in Libya

https://www.libyaconsultancy.com/news/detailed-guide-to-registering-a-company-in-libya/

Load More...