Total To Renew Libyan License

Total plans to renew its business licenses in Libya according to a new Reuters report.

The French firm’s continued operations in the country is contingent on the renewal of the licenses.

In the case that the licenses are not renewed, there will be several oil companies waiting to take over within 24 hours, according to the Tripoli-based Minister of Economy, Ali Issawi.

The renewal initiative that included 39 other firms came after the suspensions of their expired licenses, however, the ministry allowed a three-month grace period for renewals.

Issawi denied the move had a political motive, saying that some firms were operating without a license for a long time.

Oil firms are not the only ones whose licenses are under threat, firms like Thales, Siemens, and Nokia all need to renew their business licenses.