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Author Topic: LATEST FROM LIBYA!!! Why Libyan crisis has the World sweating??  (Read 560 times)

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Offline khurram

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LATEST FROM LIBYA!!! Why Libyan crisis has the World sweating??
« on: March 02, 2011, 06:04:49 PM »
ALL EYEBALLS ON LIBYA AS THE UPRISING AGAINST THE AGE-OLD DICTATOR
...Mohammed al-Gaddafi...
(Tyrant of Tripoli)

Protests reach a new high....in Tripoli
As they do in other parts of the ARAB world,....bahrain,Oman, Yemen, Saudi Arabia.
all are under pressure from pro-democracy agitators...


But why has LIBYA managed to capture world headlines....

Read on to find out what in Libya makes the UN sweat!!

Why is the world so keen on diffusing the crisis down there??

What's the vested interest .... read on...
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Offline khurram

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Re: LATEST FROM LIBYA!!! Why Libyan crisis has the World sweating??
« Reply #1 on: March 02, 2011, 06:04:57 PM »
SWEET "OIL"

Oil rules!!


The turmoil in Libya has sent panic waves across the world because unlike Egypt and Tunisia, the country is a key player in the international oil and natural gas trade.


In 2009, the latest year for which data is available, Libya was producing about 1.8 million barrels of oil per day (bbl/d). That's only about 2% of the world production of nearly 85 bbl/d. So, why has the international oil market gone ballistic, with prices hovering at $110 per barrel?
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Offline khurram

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Re: LATEST FROM LIBYA!!! Why Libyan crisis has the World sweating??
« Reply #2 on: March 02, 2011, 06:05:04 PM »
The secret lies not in the quantity but quality of Libyan oil. It is 'light' and 'sweet' . That's the oilman's jargon for describing oil as having high relative density and low sulfur content. This makes the oil particularly easy to refine. If the oil has a high sulfur content it is called 'sour' .
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Offline khurram

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Re: LATEST FROM LIBYA!!! Why Libyan crisis has the World sweating??
« Reply #3 on: March 02, 2011, 06:05:10 PM »
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Offline khurram

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Re: LATEST FROM LIBYA!!! Why Libyan crisis has the World sweating??
« Reply #4 on: March 02, 2011, 06:05:19 PM »
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Offline khurram

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Re: LATEST FROM LIBYA!!! Why Libyan crisis has the World sweating??
« Reply #5 on: March 02, 2011, 06:05:26 PM »


Libya is Africa's fourthbiggest oil producer and a key supplier for Europe. Italy, home to Libya's biggest foreign oil operator Eni, gets one fifth of its energy consumption from the North African country.[/color][/font][/b][/i]

In Libya, 90% of oil exports come from the eastern region of Cyrenaica, epicentre of the revolt against strongman Muammar Gaddafi. "There's a real threat of instability as secessionists in the Cyrenaica area move," said Stefano Casertano , senior fellow at German think-tank BIGS-Potsdam .org.[/color][/font][/b][/i]
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Offline khurram

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Re: LATEST FROM LIBYA!!! Why Libyan crisis has the World sweating??
« Reply #6 on: March 02, 2011, 06:05:37 PM »

"In 2009 there was an attempt to redistribute oil wealth to the Libyan people, but the reform was blocked and now it's going to explode in their faces." Libya's oil wealth makes the uprising fundamentally different from the popular revolts that toppled leaders in Egypt and Tunisia, which are not top oil exporters.

Operators in Libya include Eni, BP, Royal Dutch Shell, Repsol, OMV and Statoil. Many are repatriating staff.

"I have been following oil issues for 30 years and had not seen anything like what is happening now since the 1970s," said Davide Tabarelli, head of energy think-tank Nomisma Energie. "In the 1970s, it was all concentrated in a few countries , we had the war with Israel . Now it's worse."
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Re: LATEST FROM LIBYA!!! Why Libyan crisis has the World sweating??
« Reply #7 on: March 02, 2011, 06:05:44 PM »


Crude futures in New York were up 4.5% at $90.11 a barrel on fears the unrest could disrupt supplies. Shares in the STOXX 600 oil & gas index were down on average 1.2%, with Eni and Austria's OMV posting losses of around 5%.

The leader of the eastern Al-Zuwayya tribe in Libya has threatened to cut oil exports unless authorities halted what he called the "oppression of protesters" . Sabotage of oil facilities has been a threat to supplies in Nigeria, Africa's biggest oil producer, where rebel movements have struck plant belonging to Shell and Eni.

Christyan Malek, an analyst at Deutsche Bank, said Libyan secessionist groups could pose trouble but lacked critical mass.
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Offline khurram

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Re: LATEST FROM LIBYA!!! Why Libyan crisis has the World sweating??
« Reply #8 on: March 02, 2011, 06:05:53 PM »

Meanwhile in the UN...

LIBYAN DIPLOMATS SAY GADDAFI SHOULD STEP DOWN!!


Libya's ambassadors at the United Nations are calling for leader Muammar Gaddafi to step down as the country's ruler.

Deputy ambassador Ibrahim Dabbashi said on Monday that if Gaddafi does not reliqniquish power, "the Libyan people will get rid of him."

Dabbashi urged the international community to impose a no-fly zone over Libya to prevent mercenaries, weapons and other supplies from reaching Gaddafi and his security forces.

Dabbashi also said he was not resigning. The diplomat says the Libyan delegation is also urging the International Criminal Court to investigate possible crimes against humanity committed against the Libyan people during the current protests.
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Offline khurram

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Re: LATEST FROM LIBYA!!! Why Libyan crisis has the World sweating??
« Reply #9 on: March 02, 2011, 06:05:59 PM »
US MAKES ITS MOVES IN THE SUEZ

US military is in the process of repositioning its forces in the area around Libya "to be able to provide flexibility and options." And while we have yet to get an updated US naval map for this week (the last one can be found here), it appears that the USS Enterprise which was previously on its way to the Straits of Hormuz has made a 180 and has now backtracked completely through the Red Sea and is now once again north of the Suez, where it has joined the big deck amphibious warfare ship Kearsarge.
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