BP to resume oil exploration in Libya

Oil   Oil
By The Associated Press on May 29, 2012

BP says it will resume oil exploration in Libya after suspending operations there earlier due to the violent uprising that ousted Moammar Gadhafi.

The oil company said Tuesday it has lifted its "force majeure" declaration that had been in place since Feb. 21. The term is used when an oil company cannot cover the promised supply from a field, and it effectively suspended BP's plans to prepare for drilling in the country.

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