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Tuesday, 21 February 2017

Rosneft Signs Libya Oil Deal as More Investors Return to Country - Bloomberg

Rosneft Signs Libya Oil Deal as More Investors Return to Country - Bloomberg:

"Rosneft PJSC signed investment and crude-purchasing agreements with Libya’s National Oil Corp. as more international companies return to the North African country to gain access to Africa’s largest reserves.

Moscow-based Rosneft agreed to invest in exploration and production in Libya, the state-run NOC said Tuesday in a statement on its website, without specifying the amount or timing of the investment. The companies signed a separate accord for Rosneft to buy Libyan crude. 

The deals are part of a bigger push by the NOC to encourage additional investments by foreign oil companies to help Libya increase its production to 2.1 million barrels a day by 2020, according to the statement. Rosneft’s press service declined to comment when contacted by phone."



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