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Tuesday, January 20, 2009

Libyan state media: Seize foreign oil firms

CAIRO Ñ Libya's state-owned media have urged the regime to nationalize the energy sector.   

Major newspapers controlled by the regime of Col. Moammar Gadhafi, reporting foreign companies' profits of 200 percent, demanded that the government nationalize foreign oil companies. The Basic People Congresses, which set policy in Libya, were scheduled to convene in late January. This would be followed by the General People's Congress, which ratifies decisions.

"We should move fast to take back our oil from foreign companies," the Libyan daily Al Jamahiriya said on Jan. 19. "It is an opportunity for the Libyans who will meet at their Basic People Congresses in the next few days. Our oil is our wealth which requires that we control it and not leave it as a tool at the hands of foreign firms."

Western energy analysts said the regime's media campaign was meant to pressure foreign energy companies to revise their contracts with Tripoli. Libya's National Oil Corp. said it was negotiating with foreign contractors to reduce their stake in Libyan energy projects by 15 percent.

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Meanwhile, Libyan opposition sources said the United States and Libya had signed a defense cooperation accord during the last week of the administration of U.S. President George Bush. The sources said the memorandum of understanding was signed by Deputy Assistant Defense Secretary Peter Verga.

"The MoU is meant to cover defense contacts and cooperation," an opposition source said.

The Bush administration, in its last day of office on Jan. 19, did not announce an MoU with Tripoli. But earlier, administration officials said the White House and Defense Department sought to sign an agreement in principle with Libyan leader Moammar Gadhafi for defense and military cooperation. Libya's Soviet-equipped military has not been modernized since the early 1980s.

"This is yet another 'fact on the ground' by the Bush administration in its sad process of appeasing Gadhafi Ñ the Arab world's quintessential symbol for tyranny and terrorism Ñ for the sake of oil companies before it leaves office thankfully tomorrow," the opposition daily Libyan Monitor said on Jan. 19.

The sources said the MoU could pave the way for U.S. arms sales to Libya. They said Libya has expressed interest in U.S. military aircraft and border security systems.

"We believe Libya will turn to Russia for most of its military requirements," the opposition source said. "The advanced technology that cannot be obtained from Russia will be requested from the United States."



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