By John Lee.
Libya plans to increase its oil refining capacity and to develop petrochemical industries that generate jobs, according to a report from AFP.
Minister of Oil and Gas, Dr. Abdulbari Alarusi [Al Arusi] told the agency:
"Libya imports 70 percent of its fuel needs, something which is not normal for a country which has been producing oil for decades ... a study is under way to construct an industrial zone around the oil port of Ras Lanuf (eastern Libya) at a cost of 45 billion dollars."
Announcing the creation of a new public company to be based in Benghazi, Arussi said said the company would be in charge of refinery projects, the development of petrochemical industries and the modernisation of the Zawiyah refinery in western Libya and expansion of those in Tobruk and Sarrir, to the east.
He added that a refinery is to be built in the southern region of Sabha to meet the region's fuel demands.