Wednesday, September 8, 2010

Libya: No Stake in BP (NYSE:BP)

Rumors that have been circulating in some media outlets concerning Libya having a stake in BP (NYSE:BP) were shot down on the government website, where they denied any stake in the company or any other international energy firm.

The statement said, "We deny emphatically statements carried by some news outlets abroad about investment in BP or other foreign oil firms via the purchase of stakes in their share capital, including Italian ENI."

The speculation probably originated from statements made by chief of Libya's National Oil Co, Chokri Ghanem, when he mentioned BP at the time would be a good investment for anyone.

Ghanem at the time had qualified that statement by saying he was speaking generally and not specifically, which some media outlets refused to believe.

Some politicians with agendas could have kept this story alive as well, especially those trying to keep the idea in the mind of the public that BP had influenced the release of the Lockerbie bomber, when all parties accused of the assertion have categorically denied it.

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