Libyan rebels to honour all legal oil deals

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Libyan rebels to honour all legal oil deals

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Libya’s rebel government has said it will honour all energy contracts granted legally under Muammar Gaddafi’s rule.

That followed concerns among Chinese and Russian firms that they could lose out on contracts for their governments not backing the rebellion.

The man in charge of reconstruction for the rebels, Ahmed Jehani of Libya’s National Transitional Council, said: “All contracts will be honoured. All lawful contracts will be honoured, whether they are in the oil and gas complex or in the contracting. At the moment it is not for this government to decide whether they will be revoking any contract.”

Jehani said reconstruction efforts to restore oil output to pre-war levels would take between nine months and one year.

The work is already underway with the rebels calling oil workers back to restart the Ras Lanuf and Brega oil facilities.