Tuesday, August 23, 2011

Let the scramble for Libya's oil begin

""Even before Libyan rebels could take full control of Tripoli, Foreign Minister Franco Frattini of Italy said on state television Monday that the Italian oil company Eni “will have a No. 1 role in the future” in the North African country. Mr. Frattini even reported that Eni technicians were already on their way to eastern Libya to restart production. But Eni quickly denied that it had sent any personnel to the still-unsettled region, which is Italy’s largest source of imported oil. The awkward exchange suggested that the scramble to secure access to Libya’s oil wealth is already on. Libyan production has been largely shut down during the long conflict between rebel forces and troops loyal to Libya’s leader, Col. Muammar el-Qaddafi. "" (thanks Raed)