Montreal, Quebec, March 15, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: Libya’s oil exports have “ground to a halt” because of the fighting between rebels and pro-government forces, and it could be months before the country’s crude resurfaces on world markets, the International Energy Agency said Tuesday.
The Paris-based group, whose members are mainly oil-consuming industrial nations such as the United States, also said that production from the North African nation appeared to have “slowed to a trickle” as the fighting and mounting unrest prompted an exodus of foreign oil workers and led international companies to halt their operations in the country.
The IEA said that while the rebellion against Libyan leader Moammar Gadhafi continues, “what is becoming clearer is the country’s oil production and exports could be off the market for many months due to both war-inflicted damage on oil infrastructure and international sanctions.”
The fighting in Libya, which has served as the stage for the most violent of the anti-regime protests sweeping the Middle East, drove oil prices as high as almost $107 per barrel last week on the New York Mercantile Exchange before they quickly cooled after the massive earthquake that ravaged Japan. The U.S. benchmark crude futures contract was around $99 per barrel in electronic trading on the Merc on Tuesday.
The assessment, presented in the IEA’s latest month oil market report, reaffirms the belief of many in the market that Libya’s vital oil industry was all-but-shuttered amid the fighting. The country sits atop Africa’s largest proven reserves of conventional crude, and had produced about 1.6 million barrels per day. Most of its exports went to Europe.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
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