Gulf Oil and Gas accountACCOUNT

Gaddafi Offers Libyan Oil to India, Russia, China

Source: Al-Ahram 3/14/2011, Location: Africa

Libya's leader Muamer Gaddafi invited Chinese, Russian and Indian firms to produce its oil state news agency Jana reported Monday, in a bid to replace Western companies that fled unrest.

"The leader of the revolution met on Sunday the ambassadors of China, Russia and India, with whom he discussed the progress of bilateral relations and an invitation to firms from these countries to exploit Libyan oil," Jana said.

Most oil companies operating in Libya, including French Total and Chinese CNPC, have partially or completely shut down production since the uprising against Gaddafiís rule began a month ago.

As the insurrection gained momentum, Gaddafi warned on March 2 that oil production in Libya had hit a historic low and threatened to throw out Western oil companies operating in the country.

"We are ready to bring Chinese and Indian companies to replace Western ones," he said as oil companies evacuated their personnel and fled the violence.

The last oil shipment left the North African country on February 19 as large swathes of the east came under rebel control.

But rebels fighting to unseat Gaddafi lost key oil towns, including Zawiyah, Ras Lanuf and Brega, in recent days to heavily armed loyalist forces.

"Libyan oil terminals have become safe... All employees are asked to return to their jobs in all oil facilities. And we urge (foreign) firms to send their tankers to load and unload," state television said Sunday, quoting the National Oil Corporation.

Oil giant Total said on Friday that the unrest in Libya had slashed output by 1.4 million barrels a day to under 300,000.

Libya was producing 1.69 million barrels a day before the unrest, according to the International Energy Agency. Of this 1.2 million were exported, mostly to Europe. Other major customers are China and the United States.

Qatar's Energy Minister Mohammed Saleh al-Sada said on Sunday that the world oil market was "comfortable" despite the conflict in Libya.

There are no problems of supply or reserves," he told journalists, saying that producers' cartel OPEC saw no need for a meeting on output.

Unrest in MENA - The New Oil Order

Oil Field Services News in Libya >>

Egypt >>  2/14/2020 - A total of 29 international agreements and memorandums of understanding (MoUs) were signed during the Egypt Petroleum Show (EGYPS 2020), which conclud...
Egypt >>  2/11/2020 - The Egyptian Ministry of Petroleum and Schlumberger introduce the Egypt Upstream Gateway, a unique and innovative national project for digitizing subs...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Libya Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |

More News

Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.