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FINANCIAL NEWS
Anti-Qaddafi protests spurs oil driller concerns
22 Feb 2011
(MENAFN) The Italian Oil producer, drilling in Libya since 41 years when Muammar Qaddafi came to power, Eni SpA announced concerns over its oil driller in Libya, reported Bloomberg.
Due to its former colonialism of Libya, Italy is considered the largest investor in Libya, along with its Rome-based oil drilling company are the main fronts expecting loses due to the regime’s current situation.
Eni produced some 250,000 barrels a day in Libya, about 14 percent of its total production.
Eni shares have currently reached a 19-month low since yesterday, due to the deepening unrest in the North African Country.
Eni stated yesterday that their pumps are producing in a normal flow, even with the ongoing events.
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