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Libyan Rebel Council Forms Oil Company and Central Bank
Date 30/03/2011 17:37  Author webmaster  Hits 1200  Language Global
30 MAR 2011

By Bill Varner | Bloomberg (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.”

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See also:
In 2009 Gaddafi Proposed Nationalizing Libya’s Oil (PrisonPlanet.com)
Gaddafi says looking at oil firm nationalization (Reuters, 21.01.2009)