Wednesday, August 24, 2011

UK to exploit Libya's resources

Source: press TV

Britain's government has decided to take control of Libyan oil facilities as British Petroleum announced plans to resume operations in oil-rich North African country.

As Libyan opposition fighters take control of more and more areas in the capital Tripoli, the world's superpowers are trying to gain hegemony over the African country by securing lucrative contracts under the pretext of rebuilding Libya so that the country's economy would become dependent upon hegemonic powers.

Before the beginning of revolution in Libya in February, the oil-rich country produced around 1.6 million barrels per day. Libya was the seventeenth-largest oil producer in the world and the third largest in Africa.

After six months of war, however, the country's oil output has been reduced to just 100,000 barrels per day.

As experts predict that the North African country's oil output could reach 1 million barrels per day within a few months, British Petroleum, has announced plans to return to Libya as “soon as conditions allow.”

Meanwhile, a spokesman for UK Trade & Investment which is a part of Department of Business, announced that the British government plans to secure a major share in Libya's market seeking to win profitable contracts.

“We are in regular contact with companies and organizations who have business interests in Libya and have been throughout the conflict. As soon as the situation on the ground allows, UKTI has plans to provide in-country support and advice to companies wishing to be part of the reconstruction effort,” he said.

Moreover, Director Government Support at Control Risks Chris Sanderson, an international risk consultancy and security management company, said that there is an unprecedented “opportunity for UK business to seek to recover commercially some measure of the UK's significant diplomatic and military investment.”

He explained that there are opportunities for the British businesses on three grounds. First, Libya's need to rebuild infrastructure provides British companies with numerous profitable contracts. Second, British business can operate in fields like “health, education and civil security.” Finally, British companies can exploit Libya's oil and gas sectors as well as “commercial support services such as banking, finance and telecommunications

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