As political turmoil in Libya deepens, a plethora of reports suggest that multinational oil companies based in the North African state are preparing to make their getaway, evacuating staff and in some cases closing offices.  An expert analysis from Dianne Sutherland, Editor-in-Chief of Petroleum Africa Magazine in Cairo, reprinted in Oil and Gas Eurasia, examines how, in the long term, Russia could benefit from the upheavals in terms of gaining a coveted foothold in the region:

Russian companies are very keen to establish a strong presence in North Africa to secure natural gas for various reasons, and oil is a bonus.



Lukoil already holds stakes in Egypt, Tatneft is in Libya, and Gazprom is in Algeria. Gazprom also just completed a deal with ENI for the Elephant Field in Libya. While Libya’s future is most uncertain at this point, I think that Russian companies may have a political advantage over their American and European counterparts should the Qaddafi regime stay in place, and if not, the playing field should stay pretty level.