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Gold/Mining/Energy : Red Sea Oil Corporation (RSO)
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To: humblepie who wrote (120)2/12/1998 6:05:00 PM
From: Tomas  Read Replies (1) of 332
 
Libya warns Canadian, Australian firms over Iraq

Is this the real reason for RSO's weakness yesterday and today?

LONDON, Feb 11 (Reuters) - Libya has threatened to cancel oil and other contracts with Canadian and Australian firms if Canada and Australia join a threatened U.S. attack on Iraq, the official Libyan news agency JANA said on Wednesday. It quoted an ''authorised source'' at the Libyan foreign ministry as saying that Libya ''would take measures to cancel contracts and deals signed with Canadian and Australian companies in case their countries took part with the American forces in aggression against the Arab nation and the brotherly Iraqi people.''

''The source confirmed that cancellation would include all deals and contracts, whether in trade or in oil, with companies of both countries,'' JANA said in an English-language statement faxed to Reuters in London. It gave no other details. The United States has threatened to attack Iraq unless it provides unrestricted access to U.N. inspectors searching for Iraqi weapons of mass destruction.

Canadian Prime Minister Jean Chretien announced on Tuesday that Canada was sending a frigate, two Hercules transport aircraft and 300 to 400 troops to the Gulf to join the military coalition against Iraq. Australian Prime Minister John Howard said on Tuesday Australian special forces and intelligence officers would take part in any U.S.-led strike against Iraq.

biz.yahoo.com
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