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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (1428)	12/3/1999 10:30:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Libya: Independent oil expert says it won't be long before the Americans start showing interest From Agence France Presse Intl. (AFM), December 1 "Since the embargo has been lifted, the atmosphere is much better. The future is quite optimistic," Ilario Pulcini, a board member of the Italian ENI energy conglomerate, told AFP. The Libyans "are preparing a new law that will make Libya more attractive to joint ventures and foreign investors," Pulcini said, although his remarks could not be confirmed from official Libyan sources. "This proves that Libya wants to increase its industrial weight starting from the oil sector, because the oil sector is the driving force," he added. He said Libya, whose current output is some 1.2 million barrels per day (bpd) - against 2.2 bpd 10 years ago - would shortly be agreeing terms for new oil areas to be assigned to foreign companies. Italy is not the only country eager to capitalise on the new state of affairs in Libya. "The whole atmosphere has opened up completely in the past few months," said a consultant with Robertson Research of Britain. He said his company used to visit Libya once a year while sanctions were in force, but the tempo had speeded up since April. D'Alema's visit also reflects the growing political recognition of Libya by the international community, a western diplomat here pointed out. "It won't be long before the Americans start showing interest," an independent oil expert predicted. On Tuesday, US deputy assistant secretary of state for near eastern affairs, Ronald Neumann, broke with Washington's longstanding condemnation of Tripoli. "The most significant changes in Libya's behavior has been its declining support for terrorism," he told the Middle East Institute in Washington.