Libyan Firm May Buy French Refinery

Libyan firm Murzuq Oil is reported to be one of two bidders short-listed by administrators to buy the troubled Petit-Couronne refinery in Normandy, France.

The fate of the 154,000-barrel-a-day refinery has been uncertain since Swiss-based Petroplus filed for insolvency in January 2012.

The offers from Murzuq Oil and Dubai-based Netoil, will be sent to the commercial court of Rouen on Wednesday, and a decision is expected within days. Offers from both companies were rejected in the past.

Murzuq Oil was founded by 35-year old Libyan Mabrouck Jomode Elie Getty in 2011, according to Reuters.

Shell, which operated the refinery since it was opened in 1929, sold it in 2008 to Swiss refiner Petroplus, which filed for bankruptcy in January last year.

(Sources: Reuters, Bloomberg)

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