VOL. XLII

No 41

11-October-1999

LIBYA

Tamoil Registers Financial Losses For Fourth ConsecutiveYear

According to Tamoil Italia SpAs 1998 Annual Report,the Libyan-owned oil refining and distribution company registered a net loss ofLire 6.120bn ($3.7mn) for 1998, compared to a loss of Lire 38.905bn ($22.6mn)in 1997. The company also reported losses of Lire 6.716bn ($4.4mn) for 1996,and of Lire 16.465bn ($10.1mn) for 1995. During 1998, the companys sharecapital was increased by Lire 75bn to Lire...