Libyan Minister of Economy: France’s Total, other foreign firms renewing business licenses

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Minister of Economy in Libya Ali Al-Isawi. [Photo: Internet]

The Libyan Minister of Economy of the Government of National Accord (GNA) Ali Al-Isawi told Reuters on Friday that France’s oil giant “Total” and other foreign oil firms have started to renew their business licenses with Libya’s internationally recognized GNA to keep operating in the country.

The Minister of Economy denied in an interview with Reuters that the suspension of the foreign firms’ licenses was prompted by a political motive, saying some firms had operated without a license for a long time.

He also indicated  that some firms are working now on renewing their licenses in Libya, includong France’s Total.

“If a license did not get renewed, there are several oil companies to take the oilfields in 24 hours. There is a lot of competition.” Al-Isawi said.

In last May, the economy ministry suspended Total and 39 other foreign firms, saying their licenses had expired, before granting a grace period of three months to seek new ones.

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