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Libya slides back into petro-politics

Political interference in Libya's energy sector is on the rise, but, for now, it remains business-as-usual for IOCs, writes James Gavin

INTERNATIONAL oil companies (IOCs) tend to overlook Libya's reputation for troublesome politics and arcane decision-making processes. The prospect of exploiting substantial untapped hydrocarbon reserves offsets many of the disadvantages. Yet even long-standing investors are concerned by recent events, which coincided with the 40th anniversary of Muammar Qadhafi's assumption of power. Libya's penchant for using its oil sector as a political tool has resurfaced. A controversial decision in October to cut the output of Suncor's Petro-Canada unit – apparently out of pique at the Canadian government's public disapproval of the welcome afforded the convicted Lockerbie bomber, Abdel Basset al-Me

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