Exxon to Reduce Libya Presence

Reuters reports that Exxon Mobil has reduced its oil activity and number of employees in Libya due to security concerns.

Spokesman Patrick McGinn told the news agency:

The security and business situation means we can no longer justify maintaining a large office presence in Libya.

“We are not giving up on seeking to develop a business in Libya. There are many ways in which ExxonMobil could add value and we welcome discussion with Libya of any mutually beneficial investment opportunities that may arise once the security situation stabilises.

The company, which is mostly involved in offshore exploration in Libya, declined to say how many staff would leave or to give more details about its decision.

(Source: Reuters)

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