President of the High Council of State (HCS), Khaled Al-Mishri, has called on the head of the Administrative Control Authority to take all legal procedures to stop French oil giant Total SA’s acquisition of Marathon Oil Corp.’s assets.
In a letter addressed to the head of the Administrative Control Authority, Al-Mishri said the deal had been undertaken without the approval of the Libyan side; therefore, it must be challenged to preserve the rights of the Libyan state.
He added that the step taken by Marathon is an amendment to its contract with the Libyan side without the approval of the authorities, which is contrary to the oil law that governs concession contracts.
Economy
