Not much US corporate involvement in Libya. I guess that explains why we are not pursuing regime change and bombing them into the 19th century with a budget that exceeds the educational budget of most US states.
Companies & Funds Hit with Libya Exposure (ACM, E, EWI, OXY, RDS-A, BP, PBR, AFK, EGPT, TUR, EIS)
Another week, another North African country on fire. As you would expect, many large American and European companies do business in these nations. Libya has followed turmoil in Egypt and Bahrain and we wanted to see how the violence and unrest is impacting these companies now that the market is open. Libya produces around 1.5 million barrels per day, and that which is exported mostly goes to Europe.
AECOM Technology Corporation (NYSE: ACM) had what was roughly a $500 million contract over five years building Libyan infrastructure projects, much of which has apparently already been received. Shares are down 5.6% at $28.19, so this is more heavily impacting than some might have considered.
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