Tripoli, May 11, 2026 Libya’s National Oil Corporation (NOC) has assumed complete ownership of the country’s largest oil refinery after reaching a settlement that ended a long-running dispute with a United Arab Emirates-based company.
The agreement, finalised on Monday, brought an end to the partnership between the NOC and UAE-based Trasta in the Libyan Emirates Oil Refining Company (LERCO), handing full control of the Ras Lanuf refinery and petrochemical complex to the Libyan state-owned oil firm.
NOC Chairman Masoud Suleman described the development as a major milestone for Libya’s energy industry since the 2011 uprising, noting that it resolved one of the sector’s most complicated legal and commercial disputes.
Although the disagreement was addressed through international arbitration processes, it was also linked to Libya’s prolonged political divisions.
Analysts and officials in Libya had previously associated tensions surrounding the project with the UAE’s backing of eastern military commander Khalifa Haftar.
Haftar, who commands the eastern-based Libyan National Army, has frequently opposed the authority of the internationally recognised administration in Tripoli, where the NOC operates from.
The Ras Lanuf complex is situated within Libya’s Oil Crescent region, an area that has often remained under the influence of Haftar’s forces.
Authorities in Tripoli had reportedly viewed the involvement of a UAE-linked company in the refinery as a strategic concern because of Libya’s heavy reliance on oil revenues.
LERCO was originally created as a joint venture to oversee the operation and expansion of the Ras Lanuf complex, but activities at the facility were disrupted following the 2011 overthrow of former leader Muammar Gaddafi.
Subsequent years saw the project entangled in legal battles and force majeure declarations that stalled operations and investment.
Located around 600 kilometres east of Tripoli along Libya’s northeastern coastline, the Ras Lanuf facility has the capacity to refine approximately 220,000 barrels of oil daily. The complex also includes export terminals, storage infrastructure and petrochemical processing units.
Under the newly signed agreement, all shares previously held by Trasta will now be transferred to the NOC, placing the refinery entirely under Libyan control for the first time in several years.
Government officials expressed optimism that the takeover would improve operational stability and encourage fresh investment in the country’s oil sector and surrounding regions affected by years of conflict.