Oil companies unsure who to court in Libya

LONDON, March 3 (UPI) -- International oil companies aren't sure who to court in the Libyan market because of uncertainty about the country's future, an analyst said.

Libyan leader Moammar Gadhafi said he would die as a martyr before giving up control, though he maintains power in the country is in the hands of the people.

Rebel forces are said to control some of the country's key oil and natural gas assets though the situation is fluid. The International Energy Agency said Libyan oil production was down and oil transporters were asking exorbitant fees at the country's ports.

Samuel Ciszuk, an analyst with IHS Global Insight in London, was quoted in The Guardian newspaper in London as saying it was difficult to make any assessments on who controls what in Libya.

"(Oil companies) are dealing with a very fragmented opposition who are holding on to various pieces of oil infrastructure but at the same time it is impossible to know who will eventually come out on top of this struggle," he said.

The unrest in Libya helped push crude oil and gasoline prices to post-recession highs. Prices eased by Thursday, however, on word that Libyan ally Venezuela was pushing for an international peace deal.