Tag: eni

Kiran Stacey

Fighting in Ras Lanuf, LibyaA note has come through from Moody’s about oil companies operating in the Middle East, which makes some interesting points.

Its main thrust is that any disruption to supply from Libya, even for major players in the country, will be counteracted by a surge in oil prices.

One reason for that is that Libya taxed these companies at roughly 94 per cent. It has previously been said that one risk to IOCs is that if a new regime comes to power it will inflict more punitive terms on these companies as a populist measure. But realistically, it couldn’t get much more punitive than it already was, at least not without pushing out companies altogether and so stopping that source of revenue for the regime altogether.

As the Great Socialist People’s Libyan Arab Jamahiriya comes crashing down, despite regime attempts to butcher demonstrators — here’s a timely reminder on corporate exposure.

Much of it, as you’d expect, is concentrated in oil production. (Output at the country’s Nafoora oil field had stopped on Monday due to strikes, incidentally.)

Sheila McNulty

While Iraq is still a difficult place to find work, companies continue to get business.

On Tuesday, Halliburton announced it had been awarded a contract by Eni to provide a range of integrated energy services to help redevelop the Zubair field in southern Iraq.

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