- Title: LIBYA: Muammar Gaddafi's government halts economic cooperation with Italy
- Date: 15th July 2011
- Summary: TRIPOLI, LIBYA (JULY 14, 2011) (REUTERS) MEETING BETWEEN LIBYAN PRIME MINISTER, LIBYAN OIL MINISTER, AND REPRESENTATIVES OF OIL AND GAS INDUSTRY LIBYAN PRIME MINISTER BAGHDADI ALI AL-MAHMOUDI VARIOUS OF NEW OIL MINISTER UMRI AL-QABRAA MORE OF PRIME MINISTER VARIOUS OF JOURNALISTS (SOUNDBITE) (Arabic) LIBYAN PRIME MINISTER, BAGHDADI ALI AL-MAHMOUDI, SAYING: "We have a
- Embargoed: 30th July 2011 13:00
- Keywords:
- Location: Libya
- Country: Libya
- Topics: Conflict,International Relations,Politics,Energy
- Reuters ID: LVABR15F9AH7WRVBK58XYSJIK2T3
- Story Text: The government of Libyan leader Muammar Gaddafi has cut all kind of economic cooperation with Italy and its firms, Libyan Prime Minister Al-Baghdadi Ali Al-Mahmoudi said on Thursday (July 14).
He said the government halted all cooperation with Italian energy firm ENI. ENI is the biggest foreign oil company in Libya and has had a presence in the North African country since the 1950s, but it angered Tripoli by suspending operations and establishing ties with rebels trying to overthrow Gaddafi.
Al Mahmoudi told reporters the Gaddafi government was prepared to let U.S. firms invest because Washington is not taking a direct role in the NATO bombing of Libya.
"We have an agreement with Italy and they have violated this agreement. So starting from now we are breaking up any economic cooperation with Italy, including the oil agreement. Regarding the United States we respect their decision to stop the bombardment of the Libyan people and we are ready for any kind of cooperation with the United States," Al-Mahmoudi told a news conference in Tripoli.
He also said the government in Tripoli was in talks with Russian, Chinese and U.S. firms over new projects in Libya, though he did not give details.
A senior Libyan official told Reuters earlier this month that the governemnt had begun negotiations with Russian and Chinese firms on taking over ENI's projects in Libya after the Italian firm withdrew its staff.
ENI, like most other international oil companies with investments in Libya, suspended operations there after violence broke out in February following a rebellion against Gaddafi's rule.
Other big investors in Libyan energy include Royal Dutch Shell Plc, France's Total, BP Plc, Norway's Statoil and Austria's OMV. - Copyright Holder: REUTERS
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