VOL. XXXVI

NO. 1

5-OCTOBER-1992

LIBYA

Libya's Tamoil Reports Sharp Drop in Profits for 1991

Tamoil Italia SpA, the Libyan-owned downstream oil refining and distributioncompany, registered a net profit of Lire 2.323bn ($1.9mn)* for 1991, asignificant decrease from 1990 net profits of Lire 41.217bn ($36.5mn), accordingto the company's 1991 Annual Report. Net profits for 1989 were Lire 5.025bn($4.0mn). The Board of Directors' report said that the 1991 profits were"in line with the results of the...