Libya Wants U.S. Firms to Bid for Oil

[Robb]

...Nobody saw this coming, I'll bet. ;)

Libya Wants U.S. Firms to Bid for Oil

ALGIERS, Algeria -- Libyan oil officials want U.S. companies to bid in the North African country's first-ever competitive auction of energy contracts, raising the stakes for the United States as the Bush administration considers whether to end economic sanctions against Libya.

Libya's state-run National Oil Co. plans this summer to offer foreign firms the right to bid on five newly designated areas for exploration. Although a U.S. economic embargo still bars Americans from investing in Libya, the Libyan company's planning director, Tarek Hassan-Beck, said the two countries have resolved most of their remaining differences and could re-establish normal diplomatic relations within weeks.

"I think it's just a matter of paperwork," he said in an interview in Algiers, Algeria.

U.S. President George W. Bush has welcomed Libya's renunciation of terrorism and promise to dismantle programs to develop weapons of mass destruction, though Washington has yet to announce plans to restore diplomatic ties or lift the embargo it imposed on Libya in 1986.

(more)

[Nicholas D Wolfwood]

1. Halliburton, here we go!! (nt)

[BR_Parkway]

2. Halliburton would have to hire people that actually know how to bid

they've not had much experience competing

[Nicholas D Wolfwood]

3. You assume too much.

Like the bids of other companies wouldn't be overlooked as part of Bush's agreement with Libya!

[bucknaked]

4. Wow! What a coincidence!

Qaddafi just got done stroking Bush's ego by giving him a "victory" for his war in Iraq (Libya's WMD detruction declaration), and all-of-the-sudden, the next topic is selling his oil. hmmm...

The real funny part to this "victory" for Bush, is that not only has Libya been kissing our ass for over a decade, but the negotiations for what was a result of "what happened to Saddam," started before we even got into Iraq (last March).