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Apprehensive: Postwar worries builds for oil firms in Libya

Apprehensive: Postwar worries builds for oil firms in Libya

Physical damage to oil facilities is not the only worry for oil firms who spent years courting Gaddafi to gain access to the country; in postwar Libya, they fear massive renegotiation of contracts and the digging up of old secrets.

August 17, 2011 11:38 by



But physical conflict and further damage to oil facilities is not the only worry for oil firms who spent years courting Gaddafi to gain access to the country. In the potentially febrile atmosphere of postwar Libya, they fear massive renegotiation of contracts and the digging up of old secrets.

“The biggest threat to oil firms is that the new regime will inevitably try to investigate who paid what to secure contracts with Gaddafi,” said the anonymous political risk consultant.

“The firms will either have to pay again or face the risk of information being disclosed publicly and potentially ending up in courts in Europe and the U.S.”

By Peter Apps, Political Risk Correspondent

(Additional reporting by Dmitry Zhdannikov; editing by Alastair Macdonald)



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1 Comment

  1. sara on August 17, 2011 12:15 pm

    Where do you get the idea that NATO is winning? Surprised a business journalist who takes care to get their financial facts right should so easily swallow mainstrream media propaganda.

     

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