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Statoil assets in Libya threatened

• Commodity markets consumed by Japan, Libya
• Sweden backs up NATO request on Libya
Norwegian energy giant Statoil are facing problems in Libya as the Norwegian government participates in Western air attacks on the North African country.
The first of the six F-16 fighter jets Norway will contribute to the international air campaign against Moamer Kadhafi's forces will leave Norway on Monday.
Daily newspaper Dagens Naeringsliv said that Statoil's assets in Libya now are under pressure. Oil minister Shokri Ghanem threatens to kick out Western energy companies from the country and hand over the lucrative contracts to Chinese or Indian oil firms.
The state controlled Norwegian oil company has 5 percent in Mabruk and 2.4 percent in the Morzuk facilitiy, producing 4,200 barrels per day in Libya.
World oil prices rallied on Monday after Western air strikes were launched on key crude exporter Libya over the weekend.
"Brent oil prices rose ... following military intervention in Libya over the weekend," analyst Conall Mac Coille at Davy stockbrokers in Dublin told AFP. "The increase in oil prices has fed through to other commodities, particularly metals."
Last Updated (Monday, 21 March 2011 11:37)







