April 23, 2018 / 9:22 AM / a month ago

Libya's NOC says Marathon's Waha Oil Co stake sale to Total not approved

TUNIS (Reuters) - Libya’s National Oil Corp said on Monday it was “discussing arrangements” over Marathon Oil’s “planned sale of its shareholding in the Waha oil company concession” and that Marathon had not received NOC approval for the sale.

“Any transaction of this nature must have the approval of NOC and the Libyan authorities,” NOC Chairman Mustafa Sanalla said in a statement.

Any deal should deliver the “best possible outcome for all the Libyan people, taking into account Libya’s security situation, fiscal position and external investment requirements”, the statement said.

Total announced that it had acquired the Waha stake from Marathon in early March.

Reporting by Aidan Lewis; editing by Jason Neely

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