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Oil companies prepare for post-Gaddafi Libya
By Patrick O’Connor
17 June 2011
The major American and European oil conglomerates previously
active in Libya are preparing to resume business in the event
that the illegal NATO-led war achieves its objective of “regime
change”, with Muammar Gaddafi forced from power and a more
pliant administration installed in Tripoli.
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| The International Energy Agency yesterday
forecast a relatively slow but steady resumption of oil
production. “By next year, the political dynamics should be
settled, one way or another, and by 2013 capacity restored to
just below pre-crisis levels, with a full recovery by 2015,”
an IEA report declared. Paolo Scaroni, the CEO of Italian oil
giant ENI, similarly declared on Wednesday: “We think that
everything will return to normal in Libya ... any government
that comes to power in Libya will have to re-start production
working with the companies that already know the country. When
we look a year from now, we look with optimism.” |
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Executives with other major oil firms that have
suspended operations in Libya—including America’s
ConocoPhillips and Britain’s BP—have been more
circumspect, while scrambling behind the scenes to
secure their stake in the oil-rich North African state.
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