Marathon Oil holds preliminary talks with Libyan rebels

[lib2DaBone]

http://blogs.marketwatch.com/thetell/2011/08/22/marathon-oil-holds-preliminary-talks-with-libyan-rebels/

Marathon Oil MRO has held “preliminary discussions” with the Libya’s National Transitional Council, the umbrella group for the forces opposed to Moammar Gadhafi, according to company spokesman John Porretto.

Marathon has talked about the condition of facilities in eastern Libya’s oil fields, one of the first regions to fall under rebel control. The Houston firm aims to develop a “working plan to restore and enhance oil and gas production when the situation stabilizes,” Porretto said. “We are planning as if there will be some damage to our facilities as well as normal issues associated with disuse.”

Plenty of question remain about the nature of oil contacts to be awarded under an incoming government, but the wheels continue to turn in the general direction of new oil production in Libya. For Marathon Oil, which recently spun off its refining unit, Marathon Petroleum Corp. MPC, a Libya deal could present a path to grow its production as a stand-alone exploration and production firm.

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China has 30,000 workers in Lybia working on lucrative contruction projects, and Lybia has been a major supplier of oil to China. I wonder how China is going to react to this news?

[Enrique]

1. there's oil in Libya?

who knew? :shrug:

[xchrom]

2. I doubt we have worry if china will be 'cut out'.

They are 1st class 'deal' makers in their own right.

[GKirk]

3. China has thirty thousand 'workers' in Libya?

Has anyone taken a good look at the soldiers fighting there?