Africa’s Largest Oil Nation Is Facing A Major Crisis

The unstable security situation in Libya and the continued bickering between rival governments have kept international oil companies from resuming exploration activities in the civil war-torn North African oil producer. Without exploration, Libya can never hope to exploit its significant oil reserves – the largest on the entire continent. The latest sign that the deteriorating situation is dampening the investment climate in the oil and gas sector comes from two oil majors, BP and Eni, which have shelved plans to install rigs and start exploration…