Magharebia

State-run Engineers India Ltd and its private partner Punj Lloyd have offered $1.6 billion for Libya's Azzawiya refinery. The firms say they seem to be the only candidates for the refinery and hope Libya decides shortly. Azzawiya, owned by Libya's state-run National Oil Corp, currently processes 100,000 barrels of oil per day -- the government wants to boost capacity to 122,800 barrels per day. The Indian bidders said the expansion project will begin next year. The companies expect to operate the refinery for a period of six months to stabilize it, and then plan to return it to the Libyan company. (The Hindu, Business Standart)