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FINANCIAL NEWS
Libya- Rebel government keeps all oil contracts
28 Aug 2011
(MENAFN) The reconstruction leader of Libya’s rebel government and the head of the National Transitional Counil’s(NTC) reconstruction effort Ahmed Jehani said that the government will keep all the legal oil and energy contracts that have been concluded during Muammar Al �Kadafi’s period, reported Arab news.
Jehani reiterated that the rebel government has no intention to cancel any lawful energy contract, and the rebel government is going to rebuild the industrial infrastructure within approximately nine months.
Also Jehani explained that the main emphasis and efforts will be dedicated for creating stabilized and secure industrial environment that will reflect positively on oil production. There is not much damage to the oil fields other than it was reported, the NTC head added.
It is worth noting that Chinese, Italian and Russian oil companies are waiting and will start working again in the Libyan oil fields as soon as possible. Libya welcomes any foreigner initiative, especially China, to help in the rehabilitation process in the country.
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