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German oil firm accused of withholding $900m from Libya  

An oil refinery in ZawiaA German oil producer has been accused by the head of Libya’s National OilCorporation of withholding more than £697m from the Libyan state and colluding with unlawful efforts by Libya’s UN-backed government to take over the sale of the country’s vastly profitable oil contracts.

The power struggle between the NOC and Wintershall – which denied that it owed any money and said it had always met its obligations to the state – has long-term implications for global oil prices and the Libyan economy...Read more HERE

An oil refinery in ZawiaA German oil producer has been accused by the head of Libya’s National OilCorporation of withholding more than £697m from the Libyan state and colluding with unlawful efforts by Libya’s UN-backed government to take over the sale of the country’s vastly profitable oil contracts.

The power struggle between the NOC and Wintershall – which denied that it owed any money and said it had always met its obligations to the state – has long-term implications for global oil prices and the Libyan economy...Read more HERE

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Published on 19/05/2017 @ 3:04 PM   | |