Tag Archives | Fertilizers

NOC acquires Yara's stake in Libyan Fertiliser Company

Norwegian fertiliser producer Yara International has entered into an agreement with Libya's National Oil Corporation (NOC) and the Libyan Investment Authority (LIA) on 31 December 2020 to divest its full ownership interest in the Libyan Norwegian Fertiliser Company (LIFECO). Yara's full legal ownership interest in LIFECO together with all economic rights and all obligations and […]

LifeCo Gas Supply Suspended pending Debt Payment

The National Oil Corporation (NOC) has confirmed the suspension of natural gas supply to the Libyan Norwegian Fertiliser Company (LifeCo) pending settlement of unpaid debts. In a statement, NOC said: "NOC management has attempted to resolve the issue through various consultations aimed at rooting out corruption and ensuring operational continuity at LifeCo plants. NOC has […]

Yara Books $112m Libya Impairment

Norwegian fertiliser producer Yara International is to write down the value of its Libyan plant by $112 million, due to the deteriorating security situation. In a statement, the company said: "Due to the worsening security outlook in Libya, Yara sees a high likelihood of a further deterioration in 2015 of the operating ability of the […]

Fertilizer Company Resumes Operations

The Norwegian fertilizer producer Yara International ASA has said that its Libyan Norwegian Fertilizer Company (Lifeco) has re-started operations at its ammonia plant in Marsa el Brega. The company said that "a controlled shut-down was carried out in January due to a local militia blocking the site". (Source: Yara)

Yara Ex-CEO Indicted for Libya Corruption

Bloomberg reports that Four members of Yara International’s former management team have been indicted for gross corruption in Libya and India. The fertilizer maker’s former CEO Thorleif Enger was charged alongside ex-upstream head Tor Holba, former Chief Operating Officer Daniel Clauw and ex-Chief Legal Officer Kendrick Wallace, Norway’s the Norwegian National Authority for Investigation and […]