By Steve Hargreaves @CNNMoney October 25, 2011: 5:24 AM ET
NEW YORK (CNNMoney) -- Western oil companies are eager to jump back into Libya, but without strong oil laws there they are hesitant to invest the billions of dollars needed to boost production.
Before the fighting broke out, the country produced about 1.6 million barrels of oil per day. Of that, the Libyan National Oil Company controlled about 1.1 million.
A handful of Western oil companies, including Italy's Eni, France's Total and ConocoPhillips, Marathon), Hess and Occidental account for most of the remaining oil, with Eni being the largest player.
But under Moammar Gadhafi the terms of those deals were strict. The dictator effectively imposed a 93% tax on any oil the companies produced in Libya.
http://money.cnn.com/2011/10/25/news/international/libya_oil/index.htm?hpt=hp_t2