+ GMT Select Your Local Time London GMT Johannesburg Lagos Cairo Accra Mogadishu Abuja Cape Town Free Town Addis Ababa Austria Bahrain Bangladesh Australia Sydney Austria Bahrain Bangladesh Belgium Brazil East Brazil West Canada Toronto Canada Pacific China Beijing Cuba Cyprus Denmark Egypt Ethiopia Finland France Germany Ghana Greece Hon Kong Hungary India Indonesia Iran Iraq Ireland Italy Jamaica Japan Jordan Kenya Korea (Rep. of) Kuwait Lebanon Liberia Libya Luxemburg Malaysia Mali Malta Mauritania Mauritius Mexico Mexico City Morocco Netherlands New Zealand Nigeria Norway Oman Pakistan Paraguay Philippines Poland Portugal Qatar Romania Russia Moscow Russia Vladivostok Saudi Arabia Senegal Sierra Leone Singapore South Africa Spain Sudan Sweden Switzerland Syria Taiwan Tanzania Thailand Trinidad And Tobago Tunisia Turkey United Arab Emirates United Kingdom USA Washington USA San Francisco USA New York USA Hawaii Venezuela Yemen Zaire Kinshasa Zaire Katanga Zambia Zimbabwe STO
[Pacific Sighting] See Makkah Clock
EsinIslam
Web
Site Explore
Exclusive Search
Broadcasters
Helping Shops
Home | Explore | Broadcasters | Media | Donations | About Us | Contact | Fatwa | Our Sheikh
Save
Libya To Supply Ghana With Enough Oil to Meet Daily Demand
8 July 2009
Libya agreed to supply the nation of Ghana with enough oil to meet its daily demand following negotiations on the sidelines of the 13th African Union summit which took place 1-3 July in Sirte. The heads of the AU member states met to discuss challenges in the agricultural sector as well as economic partnerships. Ghanaian President Atta Mills and the Leader of the Revolution Muammar Al-Qathafi met on the sidelines of the AU meeting to discuss oil shipments to the African nation, Ghana's Joy News reports. "Gadhafi has indicated his commitment to assist (Ghana with oil)," said Ghanaian presidential spokesman Mahama Ayariga. "It is now the question of the technical team working through the details of the deal and then the two countries will seal it." Ghana needs about 65,000 barrels of oil per day to meet its daily demands. Libya tops all African nations in terms of proven oil reserves, with an estimated 41.5 billion barrels of crude. Meanwhile, Ghana is courting international investors to bid on a stake in the Jubilee offshore oil field as the US-funded Kosmos equity firm goes on the auction block. The deal, estimated at anywhere between $3 billion and $6 billion. Libya Buying Italian Finmeccanica Shares on market paper Meanwhile, the Libyan Investment Authority is buying shares in Italian defence company Finmeccanica SpA on the market with the aim of reaching a "significant" stake, initially of around 2 percent, an Italian newspaper said on Sunday and reported by Reuters. On Saturday, Finmeccanica denied an Italian website report that it was in talks with a Libyan sovereign fund over the sale of a stake of up to 10 percent. However, leading financial daily Il Sole 24 Ore said on Sunday, without citing sources, that Finmeccanica was readying a wide-ranging joint venture with the Libyan Investment Authority which would see Libya buy a stake of around 2 percent on the market as a "first step". It said an announcement on the outcome of the talks could come in the next few days. Corriere della Sera newspaper also quoted Italian government sources as saying that Libya buying a stake of less than 10 percent in Finmeccanica could be "a very likely working hypothesis". The Italian state is Finmeccanica's largest shareholder with 30 percent and the Treasury has a golden share in the company giving it the right to veto share purchases of more than 3 percent.Stake buys in Italian companies above 2 percent must be notified within 5 days to Italian stock exchange watchdog Consob. Finmeccanica already has a number of interests in Libya including in the helicopters and transport sectors. It expects to ink a 300 million euro border security contract in Libya in the coming months.
EsinIslam.Com
Sign In Password