Demand is high for exploration licences in Libya
Media playback is unsupported on your device

Libya: Countries compete for oil licences

23 August 2011 Last updated at 09:13 BST

Libya's oil fields could be open for business again soon. It's a prospect that has oil executives wondering which firms and nations will be favoured be any new administration.

Those who backed the recent rebellion, such as France and Italy will find themselves in the strongest position.

However Russian and Chinese firms may lose out after failing to support any action against Col Muammar Gaddafi.

Jeremy Howell reports.