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Russia's Tatneft oil company restarts Libya operations

Russia's Tatneft gets back to work in Libya.

Libya oil 2011 11 18Enlarge
Security concerns remain for Libya's oil sector. Here, the new government's security forces protect the Zawiya Oil Refinery, some 40 kms west of Tripoli. (MARCO LONGARI/AFP/Getty Images)

The Russian oil company Tatneft is resuming work in Libya after being forced to stop in the wake of the uprising that overthrew longtime leader Muammar Gaddafi two years ago, according to The Libya Herald

Tatneft staff members are returning to the oil-rich African nation after company representatives reached an agreement with the Libyan National Oil Corporation following four months of negotiations, UPI said, citing Russia's RIA Novosti. 

Tatneft is Russia’s sixth-largest oil company and the first to establish a base in Libya, said the Herald.

Since starting work there in 2006, Tatneft sunk $250 million into its Libya operations, reported UPI

No further details on Tatneft's newly-started operations in Libya were provided, said UPI

http://www.globalpost.com/dispatch/news/regions/africa/130331/russias-tatneft-oil-company-restarts-operations-libya