Selling oil across Libya

Chapter 64 Sloppy

To enhance oil production capacity in the Sirte Basin, the Tripoli transitional government has decided to invest $400 billion to upgrade oilfield facilities in the basin.

The $20 billion was borne by the transitional government, ExxonMobil, and Eni.

According to the agreed-upon ratio, ExxonMobil and Eni will invest $120 billion and $80 billion respectively in the Sirte oil field.

After the investment is completed, ExxonMobil and Eni will receive 30% and 20% of the oil quotas for the Sirte oil field, respectively.

After the Zawiye oil field increased production, ExxonMobil and Eni's monthly profits were approximately $100 million.

Given the volatility of oil prices, it would take ExxonMobil approximately 10 years to recoup its investment.

Qin Rui had expected that this plan would be met with strong opposition from ExxonMobil and Eni.

Unexpectedly, Payne and Calcani accepted this investment plan, which Qin Rui felt was unfair, without any prior consideration.

"Tiger, you need to brush up on some basic financial knowledge."

Yuri reminded Qin Rui that Mobil doesn't make money from oil at all.

The day after the investment plan was announced, ExxonMobil's stock surged 0.3%.

In 2012, ExxonMobil's market capitalization was approximately $4000 billion.

0.3% is exactly 120 billion.

It's only been one day.

Finance is not about profits, but about expectations.

Since ExxonMobil and Eni are being so generous, the transitional government is not stingy either, announcing that it will purchase oil equipment from ExxonMobil and Eni to provide a continuous boost to their stock prices.

Just purchasing.

The quantity and price of the purchase are trade secrets and cannot be disclosed.

The announcement of the investment plan also marked Shell and Total's exit from the distribution of Libyan oil profits.

At the same time the plan was announced, the first day of negotiations between the Libyan transitional government and the interim government in Rome ended in failure, with no consensus reached.

At the press conference following the first day of negotiations, Jalil, who represented the transitional government, and Magariaf, who represented the interim government, both blamed each other.

The transitional government's condition was that all armed groups in Benghazi be dissolved and placed under the jurisdiction of the new government.

The new government will no longer hold armed members accountable for their actions during the war.

There is no second option; after the war ends, the new government can certainly settle accounts for "treason" later.

The first condition put forward by the transitional government was that Benghazi and Tripoli be established as joint capitals of Libya, and that management of the Sirte Basin oil fields be transferred to Benghazi.

The transitional government has put forward many other conditions.

Qin Rui only looked at the first one and didn't look at the rest.

It's not uncommon for a country to have two capitals; South Africa even has three.

If Benghazi and Tripoli are designated as the capitals of Libya, as demanded by the transitional government, it will result in a de facto division of Libya.

"Our goal in overthrowing the King of Kings is to build a democratic, free, peaceful, and unified Libya;"

The conditions put forward by the interim government are unacceptable to us; we cannot accept a divided Libya.

Jalil was extremely indignant.

"It's normal to have differences. That's why we came to Rome. We look forward to reaching an agreement with Tripoli as soon as possible to bring real peace to Libya."

Magariaf answered only two questions before hastily leaving the press conference.

Qin Rui was not surprised by this result.

Qin Rui had no hope for the negotiations to begin with; what he couldn't get on the battlefield, he couldn't get at the negotiating table either.

To Qin Rui's surprise, shortly after the press conference ended, Magariaf disguised himself and fled from his hotel to the British Embassy in Rome, seeking asylum from the British government.

"Whether it's Jalil or Haftar, they have both betrayed Libya and the Libyan people; they are traitors to Libya!"

At the subsequent press conference, Magariaf, in his capacity as president of the interim government, issued the harshest accusations against Jalil and Haftar.

"Neither the Tripoli transitional government nor the Benghazi interim government can represent Libya, nor are they the legitimate governments of Libya."

Armed groups such as the Numidian Brigade and the Zintan Brigade have become mouthpieces for foreign forces interfering in Libya's internal affairs.

All Libyans must unite to overthrow the transitional and interim governments in order to bring true peace to Libya!

Magariaf decided to establish a Libyan government-in-exile in London to remotely direct the resistance struggle within Libya.

"Are there any troops in Benghazi loyal to Magariaf?"

Qin Rui was surprised, wondering where Magariaf got his confidence from.

"There is an organization called the Presidential Guard, which seems to be a supporter of Magariaf."

Yuri wasn't sure either; there were too many armed groups in Benghazi to count.

When Haftar called for a ceasefire, 16 armed groups, including the Zintan Brigade and the Libyan Dawn, responded and held negotiations in Benghazi.

"Libya Dawn" is a union of tribes in eastern Libya, with seven well-known organizations under its umbrella.

How many people are in the Presidential Guard?

"Approximately 300 people."

Qin Rui did not inquire further about the equipment level of the presidential guard.

They didn't even ask about the source of funding for Magariaf's government-in-exile.

The key question is whether the negotiations can continue.

On the very first day of negotiations, the president of the interim government actually ran away!

Even a makeshift team shouldn't be this sloppy.

Boboci, always eager for drama, claimed that Libya would soon enter a "three-kingdoms" era.

This is a traditional skill of the British Empire.

"What's there to talk about? We should launch an immediate attack on Benghazi and wipe out all these ambitious schemers."

Yuri was sharpening his knife, having completely lost patience.

Qin Rui didn't want to continue the argument.

Since the conflict cannot be resolved through "civilized" means.

Ultimately, the problem still has to be solved through violence.

"That's how it should be!"

Musa was never in favor of negotiations.

On April 29, the Libyan civil war, which had just been suspended for less than two months, broke out again.

Musa did not employ the tactic of dividing his forces and advancing simultaneously.

Troops were dispatched to launch a direct attack on Benghazi along the coastal highway.

Haftar mobilized his troops to fight to the death, while simultaneously calling on all Libyans to unite and overthrow the evil successor of the King of Kings through radio and television.

On the 30th, the transitional government issued a statement announcing that it would deploy drones to target Benghazi radio and television stations, and reminded radio and television staff to evacuate in time.

This statement immediately garnered widespread attention worldwide.

The transitional government didn't even have fixed-wing fighter jets, yet it started with high-tech drones right from the beginning.

The world is changing so fast.