Libya Signs Energy Exploration Deal With Shell - NYT

[goforit]

" Libya Signs Energy Exploration Deal With Shell "
By NICOLA CLARK

Published: March 26, 2004


"Royal Dutch/Shell signed a breakthrough deal yesterday with Libya's state oil company to explore for oil and natural gas, a plan that could give Shell access to as much as $1 billion worth of fuel in North Africa.

Abdalla Salem el-Badri, the Libyan oil minister and head of its National Oil Corporation, and Malcolm Brinded, Shell's chief executive for exploration and production, met in Tripoli to sign the deal as Prime Minister Tony Blair of Britain arrived in the city to meet with Muammar el-Qaddafi, Libya's leader.

It was the first visit to the country by a British leader since Mr. Qaddafi seized power in 1969.

The deal, which is likely to irk American energy rivals that have been gearing up to enter Libya once the Bush administration lifts sanctions, establishes guidelines for projects including onshore exploration and the export of liquefied natural gas."

Con't............

<http://www.nytimes.com/2004/03/26/business/worldbusiness/26shell.html>
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Hmmmm........I wonder if this was the gift to blair from bush?
A bonus plan?

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