End Of Sanctions Allows Exxon To Pay Libya Oil Bills

Law360, New York (October 5, 2011, 6:01 PM EDT) -- Exxon Mobil Corp. announced Wednesday it would pay back its share of reported billions of dollars in oil bills owed to the Libyan National Oil Corp. by international energy companies that were unable to pay when the country was sanctioned this year.

The U.S. government, the U.N. and the EU sanctioned the country in the spring in attempts to pressure its former ruler Moammar Gadhafi out of power as the civil war in Libya was escalating. Most of the sanctions were lifted last month, and now...
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