Investment uptick in Libya is unlikely until more substantial political progress is made, analysts say. Total S.A.’s recent acquisition of Marathon Oil Libya Limited is a sign of gradual improvement in investor sentiment towards Libya, but a larger uptick in investment is unlikely until more substantial political progress is made. That is the view of oil and gas analysts at BMI Research, who highlighted in a brief research note that the security environment in the country is still ‘deeply fractured’ and risks remain high. “Various groups looking to gain leverage on the government have repeatedly targeted oil and gas infrastructure,” the analysts stated. “Substantial damage has been inflicted on production facilities, storage units and pipelines and supply disruptions are a recurrent feature of the market,” they added. The analysts said they expect to see progress on the domestic political front but warned that this would be gradual. “Steps are […]