The eastern Libyan government has offered Russia’s Tatneft the opportunity to build a refinery in Libya as part of efforts to attract investments to the region. According to the Libyan Observer, the offer was made during the Russia-Islamic World Forum in the republic of Tatarstan, when the eastern government’s investment minister suggested that Tatneft build a refinery in Benghazi or Tobruk.
” Al-Saidi also suggested that Tatarstan-based Tatneft could use Libyan oil to process in the future refinery, should it agree to build one. 'Libya has incredible reserves,' al-Saidi said. Libya has the largest proven oil reserves in Africa, with oil accounting for almost 100% of government revenues.
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