Libya: Equal Treatment for Oil Companies, No OPEC Quota Change

All international energy firms will be given equal opportunities to work in Libya, Chairman of the National Oil Corporation (NOC) Shukri Ghanem said on Monday.

“We are going to give a chance to every international oil company, whether they are from East or West,” Ghanem said. “There is no difference between companies.”

Speaking at an Oil and Gas Libya conference in Tripoli last Monday, Ghanem said OPEC still did not have a clear enough picture of the world economic outlook to be able to change its targets.

“Do not expect any decision on decreasing or increasing at the OPEC meeting next week,” Ghanem told the conference.

Ghanem said the global oil market is oversupplied and OPEC will not change production quotas when its members next meet in Vienna on March 17.

“before considering an increase or a cut in production, (existing) quotas should be respected,” Ghanem told reporters.

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