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Article: Europe, Asia flock to Tripoli: Given its geographic position and the enormous potential of its oil and gas reserves, the world's energy companies are beating a path to Libya's door. Neil Ford has the details.(Special Report)
- Article from:
- African Business
- Article date:
- January 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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While much has been made of the return of US firms to Tripoli and growing investment by Asia's oil and gas companies in the country, it is European companies that have made the biggest commitment to Libya.
BP's investment in the North African state was announced with great publicity by former British Prime Minister Tony Blair in June, while Italian firm Eni revealed that it is to greatly increase its Libyan operations.
Access to oil may have grabbed all of the headlines when President Muammar Ghaddafi first embraced the international community, but it is Libya's proximity to Europe that appears to be driving ever greater interest in the country's ...