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Home | Big Oil's $50 billion bet on Libya at stake |
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Big Oil's $50 billion bet on Libya at stake
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- February 24, 2011
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The instability in the Arab world claimed its first oil-rich victim over the weekend with the uprising in Libya. That's bad news for the bevy of international oil firms that have set up shop in the cloistered North African nation over the years, most notably Eni, the Italian oil giant. Libya has become a hot bed of energy investment since the lifting of trade sanctions seven years ago. Major oil companies from BP to ExxonMobil could now stand to lose millions, and in some cases, billions of dollars in investments and expected future revenue if the current regime falls.
- Read more at:http://rss.cnn.com/~r/rss/money_topstories/~3/g8X57bzCo3g/index.htm
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