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BASF 'Concerned' About Situation in Libya

5:25 AM MST | February 24, 2011 | Kerri Walsh in Ludwigshafen

BASF is "concerned about Libya" and "hopes the situation will calm down soon," chairman Jürgen Hambrecht says. Wintershall, the energy subsidiary of BASF, halted oil and gas production at its fields in Libya earlier this week and is evacuating staff due to violent unrest that has swept the country. Libya accounted for about 14% of Wintershall's exploration and production reserves in 2009, reports say. "Our attention is particularly focused on Libya, where we have 453 employees," Hambrecht said at the company's annual press...

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