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Libya demands local chief execs
LIBYA is now demanding that foreign companies hire Libyan chief executives to run any joint ventures.
In a move which will be seen as another step towards nationalism in the country’s oil industry, the government directive says firms with foreign participation must appoint Libyan heads.
The rule change is likely to be off-putting for foreign firms, especially if they are financing the deal.
Other signs of protectionism include a ban on offshore engineering for gas and oil projects and demands that local equipment suppliers are used.