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| Africa North |
| Oil flows, companies return to Libya |
| 2011-09-14 |
| On the economic front, the International Energy Agency said Libya could recover a quarter of its oil production by the end of 2011, and two-thirds by end-2012, adding a return to full output of about 1.6 million barrels a day could take two to three years. And Canada said it has freed up $2.2 billion dollars of Libyan assets frozen in its banks as it renewed ties with the North African country. The World Bank's recognition of the NTC came a day after China, which had long helped prop up Qaddafi before the uprising broke out, became the last permanent member of the UN Security Council to do so. But South African President Jacob Zuma said Tuesday the African Union still does not recognize Libya's new leaders, on the eve of a regional meeting in Pretoria on the latest developments in the conflict. Also Tuesday, Canadian engineering giant SNC Lavalin Group said it would still monitor the situation before returning to work on its Libyan projects, which include a prison, a water pipeline and an airport. SNC Lavalin spokeswoman Claudia Martin said the company does plan to go back to Libya but was looking into security. "We are pleased and encouraged to hear that the government of Canada has lifted its sanctions for resuming business in Libya. This is positive news and as we have always maintained, once the situation is stabilized, it is our intention to return to this country," she said. "We look forward to continuing the projects that were already underway, but before proceeding, we must be 100 percent certain that the situation is stable and secure from the perspective of the safety of our people." Suncor Energy said last week that it was confident it would return to Libya but the timing was unclear. |
| Posted by:Steve White |
| #4 Libya: TOTAL War I think Mullah Richard is right...now they are called strategic allies, freedom fighters, arab springers, so forth. |
| Posted by: swksvolFF 2011-09-14 13:57 |
| #3 "It's also possible that there won't be 'miscreants' or 'poachers' blowing up pipelines every other day as happened in 2002/3." ROTFL |
| Posted by: gr(o)mgoru 2011-09-14 11:43 |
| #2 Like Iraq? I believe that the oilfield equipment may be in better shape here than in Saddam's world as there have still been foreign countries involved with production and maintenance over the last few years. It's also possible that there won't be 'miscreants' or 'poachers' blowing up pipelines every other day as happened in 2002/3. |
| Posted by: Mullah Richard 2011-09-14 11:10 |
| #1 Libya could recover a quarter of its oil production by the end of 2011 Like Iraq? |
| Posted by: g(r)omgoru 2011-09-14 02:17 |