The economy minister of the Libyan rebels’ leadership council urged the international community to speed up efforts to provide access to promised funding and frozen assets linked to the regime of Muammar Qaddafi .
Iraq’s crude production is unlikely to significantly affect oil prices over the next six to seven years, Shokri Ghanem, chairman of Libya’s National Oil Corp. Tanaka, said at an oil conference in London today.
Libya’s oil production fell to less than 400,000 barrels a day after foreign companies pulled out their staff, the chairman of the country’s state-run National Oil Corp., Shokri Ghanem , said in a televised media conference from Tripoli.
Libya, holder of Africa’s largest oil reserves, is reviewing a proposed national resource law to boost transparency in exploration deals and include areas like natural gas and refineries, the country’s top oil official said.
BP Plc will be allowed to continue drilling for oil and gas in Libya , Shokri Ghanem , the North African country’s top oil official, said in a statement posted on the website of Libya’s National Oil Corp.
The international military intervention in Libya risks prolonging the shutdown of North Africa’s most productive oil fields as well as reprisals by Muammar Qaddafi ’s regime against foreign energy assets.