The potential restart of Libya’s 220,000 b/d Ras Lanuf refinery, the country’s largest, is embroiled in a stand-off over terms between Tripoli-based National Oil Corporation (NOC) and the owner and operator of the refinery, Libyan Emirati Refining Company (Lerco). Lerco is a JV of NOC and Trasta Energy, a Dubai-based subsidiary of UAE industrial conglomerate Al Ghurair.
Two cases were brought before the International Chamber of Commerce (ICC) for arbitration by Trasta and Lerco in late 2013. Each began the following year. (CONTINUED - 999 WORDS)