GNA to examine Total-Marathon Deal

By John Lee.

According to a report from Reuters, Libya is considering whether to intervene in Total's $450-million deal to buy Marathon Oil’s stake in the Waha oil field.

Officials told the news agency that the National Oil Corporation (NOC) may be interested in buying the 16.33-percent stake, possibly with funds from Libya’s $67-billion sovereign wealth fund, the Libyan Investment Authority (LIA).

But Total CEO Patrick Pouyanne is quoted as saying:

“The transaction is closed ... There are some discussions on some fiscal issues with the government, but it will be done.”

The NOC holds a 59.18 percent stake in Waha Oil, with ConocoPhillips holding 16.33 percent and Hess 8.16 percent.

More from Reuters here.

(Source: Reuters)

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