BASF’s Wintershall Says Libya Oil Production Future in Doubt
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BASF SE, which generates about 1.3 billion euros ($1.8 billion) in annual operating profit from Libyan oil fields, said the future of operations in the North African state is in doubt as wells remain sealed by unrest.
BASF’s Wintershall, which sealed off its eight oilfields in the Libyan desert at the end of February, is monitoring political developments there with great concern, the unit’s Chief Executive Officer Rainer Seele said at a presentation today.