Deals with Italy’s Eni and France’s Total under scrutiny
Libya’s ruling National Transitional Council (NTC) is investigating the operations of oil companies over their relationship with the toppled Gaddafi regime.
Italy’s Eni and France’s Total are among a number of local and international oil firms under investigation for possible financial irregularities, according to Abdelmajeed Saad, deputy head of the Libyan general prosecutor’s office, the US’s Wall Street Journal reports.
Two trading companies, Switzerland-based Vitol and Glencore are also under scrutiny, and the prosecutor has asked for state-owned National Oil Corporation (NOC) to submit documents relating to their transactions.
No specific allegations have been made against the companies. Eni and Total were asked in June last year to hand over documents on their Libyan operations to the US’ Securities Exchange Commission (SEC).
The formal request for documents related to activity in Libya between 2008 and 2011, was made in June 2011, as part of an ongoing investigation by the regulatory body in connection to “certain illicit payments to Libyan officials” possibly violating the US Foreign Corruption Practice Act, according to an Eni annual report filed to the SEC on 5 April.