National Oil Corporation · Tripoli Libya

Colonel Gadhafi's charm offensive includes offering contracts with Libya's National Oil Corporation (NOC). The state-owned integrated oil company controls Libya's petroleum industry; it has proved reserves of 45 billion barrels of oil and 1.4 trillion cu. meters of natural gas. NOC engages in exploration and production primarily through agreements with foreign companies. Oil accounts for 95% of the country's exports, with Italy being Libya's largest oil customer. The country is looking to recover economically following the removal of the international sanctions slapped on Libya in 1992 in the wake of the bombing of Pan Am Flight 103. To read the full description, subscribe now.