Where Has Libya's Oil Gone?

For the Austrian oil company OMV, Libya has long been its prize overseas territory. Daily production of 33,000 barrels accounted for 10 percent of the company's output—until now. With conflict raging, the oil flowing from OMV's important Shateira field in the east and other areas has stopped. OMV has no idea when it will come back. "We have no precise information at all; we have no official contact at all; we are dependent on random contact," Chief Executive Officer Gerhard Roiss told reporters on Mar. 31.

Other companies with a big Libyan presence are trying to save their operations by walking a fine line between the regime and the rebels. Italy's Eni (E) has spent years working with Colonel Muammar Qaddafi's government and has supported charities run by Qaddafi's son Saif. Yet Eni CEO Paolo Scaroni said in March that he isn't working with Qaddafi: He's in business with Libya's national oil company and will continue to negotiate with them no matter who's in charge.