Libya’s oil caught in the middle
Instability continues to derail oil authorities’ attempts to persuade IOCs to return
Libya’s much-heralded oil exploration venture involving BP and Italy’s Eni has been delayed, the latest casualty of a worsening civil war and erratic behaviour by the country’s rival governments. The venture was announced in October last year and was predicted to kick-start exploration which had halted earlier this decade; but 12 months on, the two companies have shelved plans to deploy rigs. Libya’s National Oil Corporation (NOC) is also facing trouble from both the country’s warring governments, with its chairman Mustafa Sanallah warning that the company faces possible break-up. When the BP-Eni deal was announced, it was heralded as a return to exploration for international oil companies (
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