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Confirmation: from Shokri Ghanem

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Tripoli primed for Verenex takeover

Libya's top oil official Shokri Ghanem confirmed today that Tripoli intends to buy all of Canada's Verenex Energy, pre-empting a bid by China National Petroleum Corporation (CNPC).

News wires  25 May 2009 09:16 GMT

"We are going to buy it...we are taking a pre-emption right," Ghanem told Reuters.

He declined to give a precise timeline for the deal.

Libya has said it will exercise its right to pre-empt CNPC's friendly C$10 (US$8.93) per share bid for Verenex.

Published: 25 May 2009 09:16 GMT  | Last updated: 25 May 2009 09:16 GMT

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