Monday, February 28, 2011

Trade, Not Sanctions for Libya

Looks like most of the oil flowing out of Libya right now is from the eastern part of the country, and not in the control of Gaddafi.

Rajab Sahnoun, an official with the Arabian Gulf Oil Co., said a tanker bound for China with capacity for one million barrels was being loaded at Tobruk. An Italy-bound tanker is also waiting to begin loading in the coming days, he said.

"The terminal is working at 100 percent," Sahnoun told The Associated Press.

Another Agoco official, Ali Faraj, said a pipeline connecting the port to the eastern oilfields of Sarir and Misla was operating normally. The company's production of around 220,000 barrels a day had been largely unaffected, Faraj said.

European Union Energy Commissioner Guenther Oettinger said Libyan leader Muammar Gaddafi, who is struggling to contain a popular uprising that threatens to sweep him from power, had lost control of most of the country's oil and gas fields.

Many facilities were now controlled by regional families or provisional regional leaders opposed to Gaddafi's authority, Oettinger told a meeting of EU energy ministers.

"They have taken over control, they have taken away control from Gaddafi," he said.

http://english.aljazeera.net/news/africa/2011/02/201122815340296600.html

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