Libya to Cost OMV Boss his Job?

With the continuing unrest in Libya hitting profits at Austria's OMV, Reuters reports that pressure is mounting on CEO Gerhard Roiss (pictured) to quit the top job.

As we reported over the summer, the company was forced to compensate for the vastly reduced output from Libya with increased production from newly acquired fields in the Norwegian North Sea, where oil more expensive to extract.

Local sources report corporate infighting, and Austrian media have cited sources saying that his contract, which just last year was extended to March 2017, might be cut short at a supervisory board meeting on Tuesday.

(Source: Reuters)

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