1.
Sex tape spliced into graduation video
ROME, March 11 (UPI) -- Italian energy company Eni warned the "worst potential outcome" for oil-rich Libya is that it will turn into a failed state.
International energy companies evacuated their staff from Libya in February as demonstrations turned violent in the country. By March, the situation spiraled out of country, creating havoc in the global energy market.
"What would be the worst potential outcome is to have a kind of Somalia situation in Libya that has no government for a long period of time," he said. "But if this happens, this will not just be Eni's problem. It will be a problem for Europe, for everybody."
Scaroni said that it wouldn't "necessarily be bad" if somehow the country split along rebel and pro-regime lines, saying a power vacuum would be the worst case scenario.
Eni said it was planning to halt the last of its oil output from Libya within the coming days. The International Energy Agency said most of Libyan oil is shut out of the market.
Eni is the biggest oil producer in Libya. It pumped close to 300,000 barrels of oil equivalent out of Libya every day before the crisis hit.
|
|
|
|
|
|
| Additional Energy Resources Stories | |
BAGHDAD, May 31 (UPI) --
Iraq's fourth energy auction has flopped, denting hopes of challenging Saudi Arabia as the world's top producer.
|
THOUSAND OAKS, Calif., May 31 (UPI) --
Teledyne Technologies is boosting its acoustic sensor and communication device offerings with the acquisition of Washington's BlueView Technologies.
|
Inventories of bank-owned foreclosures for sale vary increasingly by state as the latest local data suggests that lenders are beginning to release a long-awaited wave of more than one million backlogged foreclosures, primarily in states where a court...
|
Behind the impulse in Europe to form eurobonds or collectively insure bank deposits is the fear that Spain will require a very expensive fix.
|
| Stories | Photos | People | Comments |
View Caption
