ABSTRACT
In September 1961, Esso Standard began regular exports of oil and so passed its effective date. The three Oasis partners — Marathon, Continental and Amerada — followed in July 1962 and Esso Sirte in January 1963. In January 1965, the producing oil companies, at the request of the Ministry of Petroleum Affairs, provided estimates of exports of crude oil for the year 1965 and of payments to the Libyan Government in respect of these operations. It was to be expected that the independent Libyan producing companies, who had not previously had oil business in Europe, and whose US outlets for Libyan production were strictly limited by the import quota system there, would be obliged to involve themselves in heavy expenses, including price reductions and investment in refining and marketing, to obtain footholds for the disposal of their rapidly rising Libyan production.
