Toronto Media Co-op

Local Independent News

More independent news:
Do you want free independent news delivered weekly? sign up now
Can you support independent journalists with $5? donate today!
Not reviewed by Toronto Media Co-op editors. copyeditedfact checked [?]

Canadian Companies and Libya Oil

Blog posts reflect the views of their authors.

Recently the Toronto Media Co-op took a look at the winners and losers in the stampede for Libya's oil resources.

Today, the Toronto Star outlined the Canadian companies entering the fray:

“As I’m sure you would expect, we’re watching the situation extremely carefully and waiting to see how it all unfolds,” said Kelli Stevens, a spokesperson with Calgary-based Suncor.

“The biggest thing is that if we were to go back we would want to do so safely, responsibly, in compliance with sanctions.”

The energy firm, working in partnership with the state-owned National Oil Corporation, was producing about 50,000 barrels of oil a day before the uprising.

A spokesperson for Montreal’s SNC Lavalin, which was working on an irrigation project and building a prison and airport when the uprising began, said they’re still monitoring the situation in Libya.

“For the moment, our position is unchanged. Our projects are still on hold, and we intend to return to Libya once the situation is resolved and diplomatic relations are re-established,” said Leslie Quinton.

Both Suncor and SNC-Lavalin have been featured in the Media Co-op Investor series.


Socialize:
Want more grassroots coverage?
Join the Media Co-op today.

Creative Commons license icon Creative Commons license icon

About the poster

Trusted by 3 other users.
Has posted 178 times.
View Gwalgen Dent's profile »

Recent Posts:


Gwalgen Dent (Gwalgen Geordie Dent)
Toronto
Member since August 2008

About:


182 words

The site for the Toronto local of The Media Co-op has been archived and will no longer be updated. Please visit the main Media Co-op website to learn more about the organization.