27 Mar '11, 3pm

Libyan rebels to start oil exports soon - Channel NewsAsia via @AddThis

Libyan rebels to start oil exports soon - Channel NewsAsia via @AddThis

BENGHAZI, Libya: Oil fields in rebel-held territory in Libya are producing between 100,000 and 130,000 barrels a day, and the opposition plans to begin exporting oil "in less than a week", a rebel representative said on Sunday. "We are producing about 100,000 to 130,000 barrels a day, we can easily up that to about 300,000 a day," said Ali Tarhoni, the rebel representative responsible for economy, finance and oil, at a news conference. He said the rebel government had agreed an oil contract with Qatar, which would market the crude, and that he expected exports to begin in "less than a week". Tarhoni said he had signed the contract with Qatar recently and that the deal would help ensure "access to liquidity in terms of foreign denominated currency". "We contacted the oil company of Qatar and they agreed to take all the oil we export and market that oil for us," he said. "We...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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