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Tamoil sold to American Investment Fund



9. July 2007

The Chairman of National Oil Corporation (NOC) in Libya announced, that Tripoli sold 65 % of it's ownership in Tamoil to the American Investment Fund (Colony Capital, Los Angeles) in the value of Euro 4 billion. 

 TAMOIL, known also under the name of (Oil Invest) owns 3.000 fuel distribution stations in Europe, the largest number in Italy. It alos utilizes oil refineries in Germany, Italy, Switzerland and Spain. The company also works in African countries especially in Egypt, Burkina Faso, Chad, Mali, Niger and Eritrea.
Libya is considered as the second oil producer in Africa with 1,6 millon bpd and own oil reserves of high quality estimated at about 42 billion barrels.