BMI View: Despite a strong recovery in oil and gas production in 2012, over the longer term growth in both oil and gas production are likely to be more muted as a result of frequent disruptions to oil and gas operations by political unrest in Libya. Significant political risks loom over the country’s longer-term outlook, arising from both domestic tensions between the east and the west, and from an emboldened Islamic militant movement in North Africa. This could limit greenfield investment in particular and cap growth in both reserves and production, resulting in the country underperforming below its potential. The …
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