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Publish Date : Tuesday 10 May 2011 - 10:22
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Libya rebels receiving oil payments via Qatar fund
Libya rebels receiving oil payments via Qatar fund
 
 
Islam Times - Oil payments for Libyan rebels selling crude oil are being made through a Qatari trust fund in U.S. dollars, a member of the oil and gas support group for Libya said on Monday.
 
Islam Times reports from Reuters: "The payments for the Libyan crude are made through a bank account in Qatar and the payment is made in U.S. dollars," said the oil industry source, who asked not to be identified.

"So far around 1 million barrels have been sold at $100 million and the money is used to buy basic commodities like food and other aid," the source said, speaking on the sidelines of a meeting of Libya opposition tribal councils in Abu Dhabi.

Rebels fighting a fierce back-and-forth battle with forces loyal to Libyan leader Muammar Gaddafi are selling oil they control in order to fund their effort, with assistance from Qatar.

"We have set up an oil and gas support group in Doha and we now have an office there," the source said. "Qatar is helping with marketing the crude and our main target market is now southern Europe."
 
Story Code: 70935