Eastern Libya offers Russian firms to build refineries and sell oil products

Authorities in eastern Libya are offering Russian companies the opportunity to build oil refineries on the territory of the Arab country and engage in the sale of petroleum products. Minister of Investment Ali al-Kaidi noted that Russian firms have not yet invested in Libya's economy, citing unstable security conditions. Although Libya has the largest oil reserves in Africa, its oil and gas sector has suffered greatly due to civil war and political instability, causing oil fields and port facilities to remain idle for long periods.