Libya courting oil & gas investors but faces a tough sell - Arab News

Updated: Feb 21, 2010 7:17 PM The Libyan government has been sounding off lately about boosting the profile of its oil and gas market, but it's questionable whether international companies will ignore the government's missteps in the industry - not to mention the recent lackluster energy finds - and keep injecting money into the North African country.

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The head of Libya's National Oil Corp., Shokri Ghanem, has his eye on expanding gas exploration and production in a bid to raise exports to Europe, as well as privatizing oil refineries and the petrochemical sector, according to an interview he gave this month to the Oxford Business Group. Once an international outcast, Libya now wants foreigners to take a greater stake in the oil market and in turn encourage local firms to play a larger role as well.

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