Libya has become a major headache for European oil companies as a four-year conflict forced BP to join Total in writing off millions of dollars in investments in the North African country.
BP on Tuesday the 28th of July said it had taken an impairment of almost $600 million in the second quarter as fighting forced it to suspend an oil exploration campaign. The unexpected charge was the main reason BPâ€™s earnings fell short of analystsâ€™ estimates.
â€” Oil Breaking News (@OilBRK) 30 Juillet 2015
â€śThere is significant uncertainty on when drilling operations might be able to proceed,â€ť London-based BP said in a statement.
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