Time To Reap The Rewards

May 2006 | Economic Analysis

The timing of the normalisation of relations, just days after Tripoli announced a new oil licensing round, suggests that the Libyan authorities will seek to make capital out of the new status. We do not anticipate this will trigger a flood of new investment into Libyan hydrocarbons from US oil companies - Libya's tough fiscal regime and the existence of strong European and Asian competition make the Jamahiriya a tough nut to crack, terrorist state or not. But those firms with footholds, mainly Occidental Petroleum and the Oasis group pack, ConcocoPhiilips, Marathon and Amerada Hess, and Chevron, having lobbied hard

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