Libya Awards First Oil Blocks In 20 Years to Chevron and Europe’s Oil Majors

Libya's state-owned National Oil Corporation (NOC) has announced U.S. Oil & Gas major Chevron (NYSE:CVX) among the winners of its first oil and gas licensing round in nearly two decades, signaling a major push to revive the country's hydrocarbon sector. The bidding round also awarded exploration and production rights to several foreign companies, including Italy’s Eni S.p.A. (NYSE:E), Spain’s Repsol S.A. (OTCQX:REPYY), QatarEnergy and Nigeria’s Aiteo. Chevron secured an onshore Sirte S4 (also referred to as Contract Area 106)…