Libya Establishes Foreign Petroleum Investments Corporation
MEES learns that Libya's National Oil Corporation (NOC) has established a newcompany called the Foreign Petroleum Investments Corporation (FPIC) andcapitalized at $500mn with the aim of acquiring downstream facilities abroad.Other OPEC members such as Kuwait, Venezuela, Nigeria and Saudi Arabia haveeither already gone downstream or indicated their intention to do so, butbecause of political and legal...
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