Government Ministers of Libya, Algeria, Iraq and Saudi Arabia met in Tripoli on Monday (15 March) to discuss the outcome of three weeks of secret price negotiations with 25 western oil companies.
GV Tripoli street
GV Conference building.
CU Sign over building.
SV Algerian Minister Abdul Sallam (wearing raincoat) enters followed by others.
SCU PAN Saudi Arabian Minister Yamani (light suit and bearded) enters.
LV INTERIOR Ministers seated at table.
CU PAN From Minister Sallam to Iraqui Minister Hammadi.
SV ZOOM IN TO CU Libya Minister Mabruk (left)and ZOOM IN ON Yamani of Saudi Arabia.
GV Four Ministers seated.
CU Guard outside building.
SV The four Ministers outside the building.
CU Minister Mabruk of Libya replies to reporter
SOF Begins "Were you satisfied with the outcome....."
SOF Ends "....that is right."
TRANSCRIPT: Reporter (SEQ. 12): Were you satisfied with the outcome of the meeting? Minister Mabrouk of Libya: Yes, quite satisfied.
Reporter: And all countries agreed on the communique?
Mabrouk: That's right.
Reporter: And what's your next move, sir?
Reporter: You have put your proposal to the oil companies, and now it's up to the oil companies.
Mabrouk: Well, now they will read the communique and know where they stand.
Reporter: You think you have told the oil companies where they stand, and now it's up to the oil companies to reply.
Mabrouk: That's right.
Reporter: Thank you very much.
Mabrouk: Thank you.
Initials VS/22.05 VS/22.21
NB. Following the threat to cut off oil supplies, a joint oil company statement was issued on Tuesday (16 March). It was on offer from the companies to continue negotiations with the objective of reaching a reasonable settlement.
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Background: Government Ministers of Libya, Algeria, Iraq and Saudi Arabia met in Tripoli on Monday (15 March) to discuss the outcome of three weeks of secret price negotiations with 25 western oil companies. Libya has been negotiating with the oil companies on behalf of the three other countries.
The countries are asking for increased oil revenues, and the four ministers were expected to discuss Libya's threat to nationalize the petroleum industry.
The four ministers issued a joint statement at the end of the meeting warning that they would cut off oil supplies unless the oil companies met the higher prices by a date still to be fixed.