Thursday, 26 January 2012
Libya: Italy wants to resume its favoured trading relationship
Libya will receive US$5 billion from Italy over the next 20 years, including several major contracts of which the largest single project is for the construction of the coastal highway.
Meanwhile, Italy's ENI has reported that bilateral oil sector relations are very cordial. Its CEO, Paolo Scaroni, reported that ENI's output has now returned to pre-war levels of 260,000 b/d. The company has also signed a memorandum of understanding to undertake €380 million worth of social projects in Libya.
For more news and expert analysis about Libya, please see Libya Focus and Libya Politics & Security.
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