The Libya Africa Portfolio for Investment has announced that its subsidiary, Ola Energy, achieved net profits of €34.5 million during 2024. This figure marks the highest level of net earnings for the company over the past three years.
In a statement issued yesterday, Sunday, the Portfolio clarified that the company’s profits reached €29.8 million in 2023, while they recorded approximately €11.2 million in 2022.
This announcement was made during the first General Assembly meeting for the current year, which was convened in Tripoli. All members of the General Assembly and the Board of Directors attended the meeting, where the financial statements for 2024 were reviewed, alongside the external auditor’s report and the company’s annual report.
Ola Energy, one of the Portfolio’s affiliated companies, manages approximately 1,500 fuel distribution stations. The company also provides fuel supply services at 55 airports across the African continent and owns seven heavy engine oil production plants located in various African countries.
