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Friday, July 15, 2011     FOR YOUR EYES ONLY

Libyan rebels negotiating to restore oil production

CAIRO — Libya's rebel movement plans to sign contracts to enhance refinery capability.

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The Libyan Transitional National Council said it was examining ways to restore the nation's energy sector. The council said it was preparing to sign contracts to restore Libya's refineries and facilitate production.

"When we do, the price will be set following negotiations with those major oil companies that have refinery capabilities," the rebel council said. "It should be noted that in the short term, we will only export enough crude to meet our needs during these difficult times."

Also In This Edition

The Gadhafi-ruled oil sector, particularly the state-owned Libyan National Oil Co., has been under international sanctions.

Col. Moammar Gadhafi is said to be negotiating with China and Russia to replace Western companies that suspended energy projects in the North African state.

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