U.S. Increases Sanctions on Oil

By: Associated Press and WTVY
By: Associated Press and WTVY

WASHINGTON (AP) - The Obama administration has identified 14
more oil companies owned by Libya's government and covered by U.S. sanctions.

The Treasury Department says Libya's National Oil Corp. controls the companies. They're involved in oil exploration, production and sales. The U.S. already has frozen $32 billion in Libyan assets.

he companies are Arabian Gulf Oil Co., Azzawiya Oil Refining Co., Brega Petroleum Marketing Co., Harouge Oil Operations, Jamahiriya Oil Well Fluids and Equipment, Mediterranean Oil Services Co., Mediterranean Oil Services GMBH, National Oil Fields and Terminals Catering Co., North African Geophysical Exploration Co., National Oil Wells Drilling and Workover Co., Ras Lanuf Oil and Gas Processing Co., Sirte Oil Co., Zueitina Oil Co. and Waha Oil Co.

President Barack Obama imposed sanctions on $30 billion in Libyan assets last month.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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