NOC acquires Norwegian Yara’s 50 percent stake in Libyan-Norwegian Fertilizers CompanyBy Sami Zaptia. London, 4 January 2021:Libya’s state National Oil Corporation (NOC) announced today that it had last Thursday (21 December), acquired Norwegian Yara’s 50 percent stake in the Libyan-Norwegian Fertilizers Company (Lifeco). Lifeco was a joint venture between the state-owned Norwegian company, which held 50 percent the shares and the NOC and the Libyan Investment Authority (LIA) held 25 percent each. Lifeco JV took over the running of the Brega operation (two urea and two ammonia plants) from NOC subsidiary Sirte Oil Company (SOC). NOC suspends gas supplies to Libyan Norwegian Fertilizer Co. pending debt payment | (libyaherald.com)Lifeco’s resumed fertiliser output boosts Norwegian partner Yara | (libyaherald.com)

Source: Libya Today January 04, 2021 15:11 UTC