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Oil Driller Eni at Risk in Libya as Political Unrest Spreads

Eni SpA, the Italian oil producer that’s drilled in Libya during the whole of Muammar Qaddafi’s 41-year rule, is the foreign company with most to lose as violence escalates and the regime threatens to unravel.

As the former colonial power, Italy is the biggest investor in Libya and Rome-based Eni is at the forefront of the relationship. Italy’s largest company pumps almost 250,000 barrels a day in the North African country, or about 14 percent of its total production. Eni’s shares extended declines today after falling the most in 19 months yesterday.