gsvol
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Form and oil company and a central bank.
Libyan Rebel Council Forms Oil Company to Replace Qaddafi?s
Libya has the largest oil reserves in Africa
and oil production is presently 1/4 what it
was before the rebelion.
Production may be halted for several months
at any point now.
Libyan Rebel Council Forms Oil Company to Replace Qaddafi?s
Libyan rebels in Benghazi said they have created
a new national oil company to replace the
corporation controlled by leader Muammar Qaddafi
whose assets were frozen by the United Nations
Security Council.
The Transitional National Council released a
statement announcing the decision made at
a March 19 meeting to establish the Libyan
Oil Company as supervisory authority on oil
production and policies in the country, based
temporarily in Benghazi, and the appointment
of an interim director general of the company.
The Council also said it designated the Central
Bank of Benghazi as a monetary authority
competent in monetary policies in Libya and
the appointment of a governor to the Central
Bank of Libya, with a temporary headquarters
in Benghazi.
Libya has the largest oil reserves in Africa
and oil production is presently 1/4 what it
was before the rebelion.
Production may be halted for several months
at any point now.