Libya Oil Chief Says Crude Production ‘Could Reach a Halt’ Due to Conflict

[somone]

http://www.bloomberg.com/news/2011-03-19/libya-oil-chief-says-crude-production-could-reach-a-halt-due-to-conflict.html

Libya Oil Chief Says Crude Production ‘Could Reach a Halt’ Due to Conflict
By Ola Galal and Inal Ersan

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.

Ghanem said the North African country had no intention of breaking commitments with foreign companies and called on them to send their employees back to resume work. Libya may otherwise award new oil and gas concessions directly to companies in countries such as China, India and Brazil in order to raise production, which “could reach a halt,” he said.

Within hours of Ghanem’s remarks, war planes and naval vessels from the U.S., Canada, France, the U.K. and Italy began bombing Libyan air defenses and other military targets to enforce a United Nations-authorized no-fly zone. Earlier today, dictator Muammar Qaddafi abandoned a cease-fire he announced yesterday and ordered an attack on the rebel stronghold of Benghazi.

Oil and gas installations in Libya, including the main oil hub of Ras Lanuf, were damaged in fighting between rebels seeking the ouster of Qaddafi and forces loyal to him after mass protests against his four-decade rule erupted on Feb. 17...

[Wilms]

1. Mission Accomplished 2.0

The more oil staying in the ground, the higher the price will go.

[liberal N proud]

2. My thoughts exactly

Greed plays a role once again.

[WHEN CRABS ROAR]

3. And thats why we respond, how nobel.

[vi5]

4. Libya has oil!!!! What a coincidence....

How about that. Boy, it's a good thing we have a Democratic president otherwise people on here might make some connections that thankfully we now don't have to make. You know, because the president is a Democrat.