Libya's NOC signs memorandum of understanding with ExxonMobil after decade of inactivity
1. Libya's NOC signed an MoU with ExxonMobil, ending a decade-long operational halt.
FAQ
Why Bullish?
Exxon's re-entry into Libya suggests potential for new revenues. Historically, reopening of oil fields often boosts stock value.
How important is it?
The memorandum could significantly enhance Exxon's growth prospects in previously untapped markets.
Why Long Term?
Successful operations could yield sustained profits, similar to Exxon's expansion in past years.