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Libya. oil

Africa

APR Energy continues suspension in Libya

APR Energy said the suspension of operations in Libya will have an effect on its financial performance for the year. The company decided in November to temporarily suspend on going work in the North African country while it awaited final parliamentary ratification of the contract addendum signed by the customer and Ministry of Electricity in July. It said revenues for the year are expected to be $490million, offset by $30million which has arisen from the planned disposal of two turbines in Uruguay.