US oil company returns to Libya - Democratic Underground

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Sat Jul-30-05 08:07 PM
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US oil company returns to Libya

http://news.bbc.co.uk/2/hi/africa/4730199.stm

The US-based Occidental Petroleum Corporation says Libya has given it permission to resume operations there for the first time in 19 years.

The company was forced to abandon production in Libya in the mid-1980s, because of sanctions against Tripoli imposed by the US government.

Occidental is taking over operations from wells that have been producing 12,000-15,000 barrels of oil a day.

The company was among a number of US oil producers to win exploration rights in Libya earlier this year.

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