Shell is to announce its exit from Libya
Shell “intends to suspend and abandon drilled wells and stop exploration in [its] Libyan licenses,” a company spokesman said in a Dow Jones Newswires report.
Despite its exit Shell insists that is still interested in the country however, it also said that its exploration results prior to the outbreak of hostilities were less than encouraging. “Results [prior to the war] have been disappointing and further exploration cannot be economically justified,” the spokesman said.
The news of Shell’s exit comes at the same time as BP reports that it will resume its exploration activities in the country