LIBYA OIL PRODUCTION BESET BY DIFFICULTIES – DESPITE 1990s MARKET OPENING
January 1st, 2010
BY PAUL COCHRANE
WHEN Libya came in from the diplomatic cold in 2004 after international sanctions were lifted amidst a flurry of good behaviour, oil companies considered the former rogue state a new frontier, keen to return after a 30-year hiatus. But five years later that enthusiasm has dampened.
Libya has revised its production targets downwards, and there have been few discoveries by international oil companies (IOCs); power struggles continue within Libya's National Oil Company (NOC); and contradictory government statements over oil policy abound. ...
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