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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Timelord who wrote (1025)4/20/1999 2:09:00 AM
From: Tomas   of 2742
 
Libya minister says U.S. investors welcome in oil industry

Geneva, Monday April 20
Libya's oil minister on Monday called for the
lifting of U.S. sanctions against the country
and said all investors, including American
firms, would be welcome.

''We hope U.S. sanctions will end at once,
so that American oil companies are able to
invest in Libya,'' Abdalla Salem el-Badri told a
conference on oil and gas investments in the
country.

Three-quarters of Libya's potential oil
reserves are available for further
development, el-Badri told the oil industry
gathering in Geneva.

With proven reserves of 30 billion barrels,
Libya has as much oil as Norway and Britain
combined. It also has natural gas reserves of
45.9 trillion cubic feet, comparable to those
of Norway.
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