The race is on for Libya's oil, with Britain and France both staking a claim [View All]

[EFerrari]

The race is on for Libya's oil, with Britain and France both staking a claim

Rebel leaders dismiss suggestions that firm promises have been made, but supportive countries look set to benefit

Julian Borger and Terry Macalister
guardian.co.uk, Thursday 1 September 2011 20.55 BST


(Humanitarian French foreign minister)

The starting pistol has been fired on bids by Britain and other western powers to secure a slice of the oil prize in Libya when France said it was "fair and logical" for its companies to benefit.

Alain Juppé, the French foreign minister, planted his flag in the sand as the Guardian was told that BP was already holding private talks with members of Libya's interim government.

Libya is a vital energy producer, and BP had previously committed itself to spending more than $1bn on exploration plans under Muammar Gaddafi's government.

Shell was also becoming active before the civil war broke out, as was Total of France, but the conflict over the past few months has brought the country's existing oil production of 1.6m barrels a day – 2% of the world's total – to a halt.

http://www.guardian.co.uk/world/2011/sep/01/libya-oil