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Libyans in bid for Shell’s giant Stanlow facility in Cheshire

By Daily Mail Reporter
Last updated at 10:20 PM on 09th August 2009

The Libyans could be in charge of over a sixth of Britain’s petrol production if the controversial African nation wins the auction for Shell’s giant Stanlow facility near Ellesmere Port in Cheshire.


Libya’s National Oil Corporation is teaming up with Essar, the Indian mobile phone company, to make a bid.

Stanlow is being sold along with two German refineries with a price tag of £1.5billion.

The Gaddafi regime is already a big investor in the UK.

Last month it paid £155million for Portman House, an office complex on London’s Oxford Street and home to upmarket estate agent Cluttons.

Royal Dutch Shell, meanwhile, announced in July that it will axe thousands more jobs as it grapples with the deepest downturn in oil demand for almost three decades.

The oil giant’s new chief executive Peter Voser struck a resoundingly grim tone when he unveiled a 70 per cent crash in second quarter profits to £1.4billion a few weeks ago.

He will hack capital spending by 10 per cent and push through ‘substantial’ cuts to the firm’s 102,000-strong workforce.

‘We simply don’t know when the global economy will recover, and we have to plan on the basis that this downturn could last quite some time,’ said Voser.

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