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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Tomas who wrote (2385)	5/9/2001 11:32:54 PM
From: Tomas	Read Replies (1) of 2742

"BP, Shell and Total are reported to have joined the rush for US-owned concessions in Libya" The Independent, May 10 German firms target Libya's banned oil BY IMRE KARACS IN BERLIN A NEW trade war is looming between Europe and America, to be fought this time not over bananas, but the rich oil fields of Libya. Although American companies are banned from operating in Libya, Washington has accused one German company of trying to poach their business, and threatened the Berlin government with reprisals. European concerns, notably BP, Shell and Total, are reported to have joined the rush for US-owned concessions in Libya. The Americans were ordered out of the country in 1986 by their own government after the US air strikes. Now the Libyans say the concessions are up for grabs. Just as the new Bush administration is pondering whether to extend sanctions due to run out in August this year, Colonel Muammar Gaddafi has put American- controlled oil fields up for auction. There is no secret about the German company Wintershall's links with the pariah state. "In Libya, we have commenced with the development of an offshore field in Concession 137 together with Elf," Wintershall's annual report states.

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