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