Sunday, March 27, 2011

AJE Live Blog: Oil currency flowing again soon for the rebels

Libyan rebels have said they plan to start exporting oil from fields in their territory "in less than a week", and said the Gulf nation of Qatar will market the crude.
A rebel representative, Ali Tarhoni, said he signed a contract with Qatar recently and the deal will ensure "access to liquidity in terms of foreign denominated currency".
We are producing about 100,000 to 130,000 barrels a day, we can easily up that to about 300,000 a day.
We contacted the oil company of Qatar and they agreed to take all the oil we export and market that oil for us. We have an escrow account ... and the money will be deposited in this account, and this way there is no middle man and we know where the money is going.

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