Middle East Economic Survey

VOL. L

No 24

11-June-2007

LIBYA

Tamoil Sold To Colony Capital For $5.4Bn

The Libyan government on 5 June sold 65% of Tamoil, its international refining and retail company, to Colony Capital for $5.4bn. Libya will retain a 35% share of the company which owns refineries in Europe (Italy, Germany and Switzerland) with a combined capacity of around 255,000 b/d, and that process primarily Libyan oil. The companys retain network includes more than 3,000 service stations that...