Ukraine to resume oil, gas cooperation with Libya

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Ukrainian President Viktor Yushchenko discussed on Tuesday with Libyan leader Muammar Gaddafi, who is on a state visit in Kyiv now, issues involved in cooperation in petroleum and natural gas industries.

Yushchenko invited Libya to partake in development of the Ukrainian market of petroleum products. Particularly, he proposed that Libya organize construction of an oil refinery in West Ukraine, and start selling petroleum products via its own filling stations all across this country.

Yushchenko says this is a profitable project that would enable Libya to sell its petroleum products in the European market, as well. "Ukraine is ready for cooperation on this project at all levels," the head of state assured.

Yushchenko disclosed that the talks had also covered restoration of the dialogue on Libya's providing oil fields to be developed by Ukrainian companies.

"Ukraine would willingly resume the dialogue, and we would also like to introduce there our oil prospecting and extraction, and find a means for the distribution of products within the framework of national legislation to please both parties," Yushchenko underscored.

The negotiations on both projects will continue on November 5.

UKRINFORM