Heritage Deal Marks First Move on Libyan Oil

Oct. 04, 2011 02:46PM PST

Reuters reported that Heritage Oil (LON:HOIL) has bought control of a Benghazi-based oil services firm.

As quoted in the market news:

Heritage said on Tuesday it had bought 51 percent of Sahara Oil Services Holdings for $19.5 million. Reuters reported last month it was touting for business in Libya.
The deal is also a win for Britain which, like France, is hoping that early backing for Gaddafi’s opponents will help its firms win business in Libya.

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