Libya Launches First Oil Exploration Tender Since Civil War
Pipes and fuel storage tanks at an oil refinery near Tripoli, Libya.
Photographer: Shawn Baldwin/BloombergThis article is for subscribers only.
Libya launched its first tender for energy exploration since before the 2011 civil war, as the OPEC member seeks to lure back oil and gas majors following years of political instability and production shutdowns.
Oil Minister Khalifa Abdul Sadiq announced the bidding round Monday, saying it is the first in more than 17 years. It is “the most important opportunity in years for investors willing to enter the Libyan market,” he said.