The Libyan National Oil Company website - like the internet in Libya generally - is down.
Below I have copied a section (from the Google Cache) on relationships with Total - the Paris based oil major. It is clear that Total is thick with the Gadaffi regime.
So it comes as a big surprise to see Total (ahem the French Government) recognizing the Libyan rebels as a legitimate nation and exchanging ambassadors. France does not sell arms to rebels or terrorists. Recognition of the rebels as a nation is a basis for supplying them weapons.
France has gone further and is the major proponent of a no-fly zone. It has also advocated bombing Libya.
Given the very substantial French oil interests in Libya it is absurd to think that Sarkozy (first and foremost a French Nationalist) did this without either the tacit acceptance of Total or without Total's interests in mind.
France is not keen to go to war (even with jets and no casualties) in support of American oil companies. They think differently about their own oil companies.
Anyway I think we can conclude that Total (ahem the French Government) has a very different view of the outcome in Libya to that which I am getting in American and Australian media. Moreover given the very strong presence of Total in North Africa I suspect their intelligence is better than the CIA and far better than (say) the New York Times.
Also noting that Britain is joining the French in calling for EU recognition. Maybe BP also has a few tricks up their sleeve.
Cache of the website of the Libyan National Oil Company
The content contained in this blog represents the opinions of Mr. Hempton. Mr. Hempton may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Hempton's recommendations. The commentary in this blog in no way constitutes a solicitation of business or investment advice. In fact, it should not be relied upon in making investment decisions, ever. It is intended solely for the entertainment of the reader, and the author. In particular this blog is not directed for investment purposes at US Persons.