Libya: IOCs Look To The Exits As Instability Hits Their Bottom Line

Q3 earnings statements for firms active in Libya show production outages denting their bottom line. BP is the latest IOC to plan to exit or reduce its interest.

Italy’s Eni last week said it expects its 2013 oil and gas output to decline, after third quarter production dropped by 4% to 1.65mn barrels a day of oil equivalent (boe/d) on disruptions in Libya and Nigeria. Eni’s key Libyan oil fields are...