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Sunday, April 22, 2007

#28 Libya's New Global Oil Companies

Large oil companies such as France's Total and Spain's Repsol are well-known names. Mabruk Oil and Akakoss Petroleum Operations, not so much. But these are the new names of Total and Repsol, believe it or not. Well at least in Libya.

Large foreign firms working in Libya's oil industry have had to change their names to new ones reflecting the country's history and geography, the National Oil Corporation said. France's Total has become "Mabruk Oil," the word Mabruk, which means "congratulations" in Arabic, being a popular boy's name in Libya. Repsol of Spain becomes "Akakoss Petroleum Operations" -- a reference to the Akakoss mountains in the south of the country -- while the Italian natural gas firm ENI has opted for "Mellita Gas," named after the region where it operates west of Tripoli. Germany's Veba has chosen "Al-Harruj Petroleum Operations" after another southern Libyan mountain range.

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