Middle East Economic Survey

VOL. LII

No 26

29-Jun-2009

LIBYA

Verenex Energys Row With Libyas NOC Blows Open

A statement published by Verenex Energy last week made public the frustrations of the Canadian firm in its dealings with the Libyan authorities. Verenex hopes to capitalize on the discoveries it has made at Area 47 in the Ghadames Basin, by accepting a buyout offer from Chinas CNPC in February. But Libya has yet to authorize the deal, and may be looking to buy the company for a lower price,...