BP Planning a Return to Libya: Report
British oil giant BP (NYSE:BP) is eyeing a return to Libya once the ongoing conflict there starts to subside, according to The Wall Street Journal.
As rebels gain traction in the North African country and calls for Col. Muammar al-Qaddafi to leave power grow louder, BP says it is committed to returning to Libya and continuing its oil and gas exploration program, according to the report.
The company, which began initial work on a $900 million program in the country before halting operations in February following the uprising against the dictator, said it will return as soon as conditions allow, according to the Journal.
BP has not yet entered into any commercial transactions with the Transitional National Council of Libya.