Seeking Alpha

WSJ: BP in talks to give up control of Libyan project

  • Prompted by security concerns, BP (BP +0.9%) reportedly is negotiating a deal with Libya's state-controlled National Oil Co. to give up control of a major oil and natural gas project in Libya, a blow to the country as it tries to attract companies to tap Africa's largest oil reserves.
  • "BP has strict security standards on where it can operate and [Libya's] onshore blocks don't meet this criteria," says a source about the assets.
Comments (7)
  • wigit5
    , contributor
    Comments (4119) | Send Message
    It's sad this day and age to see so many places that could be valuable and prosperous, devastated by hyenas. What is the saying evil prospers when good men do nothing?
    6 Nov 2013, 03:34 PM Reply Like
  • King Rat
    , contributor
    Comments (724) | Send Message
    Libya has long been run by hyenas and BP invested in the country knowing full well the risks. Between this and the type of risk assessment that BP performed with Deepwater Horizon you can almost sense a pattern of carelessness with them.
    6 Nov 2013, 03:49 PM Reply Like
  • wigit5
    , contributor
    Comments (4119) | Send Message
    Good comment King Rat... I agree they seem to be having a serious of miscalculations and poor management decisions.
    6 Nov 2013, 04:05 PM Reply Like
    , contributor
    Comments (2161) | Send Message
    It truly is Sad.
    No leadership ANYWHERE in the world.
    It use to be U.S.
    Now a free for all and the inmates have won---for now--
    until they all screw up /exploit their resources and need the U.S. to bail them out with our know-how!
    Imo, get out of all these geo-political hot spots and let them hang themselves.
    6 Nov 2013, 03:46 PM Reply Like
  • sonik
    , contributor
    Comments (34) | Send Message
    At this point in time the US needs to retain its "full know how" to bail its self out from its debt crisis which they've screwed up all by themselves over the last few years.
    7 Nov 2013, 05:54 AM Reply Like
  • daphnex2
    , contributor
    Comments (129) | Send Message
    Libya was okay, not perfect, but okay for BP and other interests until the maniacs were set loose and took over. The "international community" didn't do much stop them and now the entire North African area is very dangerous for all Westerners.
    6 Nov 2013, 04:11 PM Reply Like
  • Hendershott
    , contributor
    Comments (1584) | Send Message
    North Africa seems to be dangerous for the locals as well.
    6 Nov 2013, 07:17 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector