Libya offers hot properties in a difficult neighbourhood

Libya is being promoted as the oil industry’s "hottest prospect for new exploration and production success". With all but US sanctions suspended, “political developments coupled with world class prospectivity propels Libya from a modest 20th position in 1998 to the number one country for new exploration, development and production ventures in 2000,” UK consultancy Robertson said in its annual poll of oil companies’ upstream spending. Such optimism is reflected in the flood of businessmen buying expensive airline seats to stay in Tripoli’s mediocre but costly hotels in the quest for contacts and contracts.