Libya on Wednesday awarded oil and gas exploration licenses to foreign companies, including Chevron, Eni, Qatar Energy, and Repsol, in the first licensing round in nearly two decades. This move is part of the country's efforts to revive the oil sector despite political risks. Libya is seeking to attract investment and boost production to stabilize its economy. However, the country's political instability poses risks for investors. The companies that received licenses will operate in accordance with the auction terms and international standards.
