Libya Oil Ministry to Restructure NOC

Reuters reports that Libya's oil ministry is proposing to separate its exploration and production activities from refining, creating two separate bodies that would be headquartered in Tripoli and Benghazi.

In a move that some see as appeasing calls for more authority in the oil-rich east, Minister Abdelbari al-Arusi [Alarusi] (pictured) said the proposed body dealing with Libya's oil refining and petrochemicals -- be called National Corporation for Oil Refining and Petrochemicals Industry -- would be situated in Benghazi.

Tripoli would remain the headquarters for a separate exploration and production body, to be called the National Corporation for the Exploration and Production of Oil and Gas, but it would have a branch in Benghazi.

The proposal for the two organisations will be submitted to the government for approval before being passed on to the ruling national congress.

(Source: Reuters)

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