Libya-Ukraine Reach Oil Deal

KIEV, Ukraine -- Ukraine's President Viktor Yushchenko says his country will pump Libyan oil following an agreement with the Libyan leader Muammar Gadhafi.

Ukrainian President Viktor Yushchenko (R), and Libyan Leader Moammar Gadhafi seen during their meeting in Tripoli, Libya.

Yushchenko told Ukrainian television network ICTV on Sunday, "We want Ukraine to produce its own oil in Libya. We have reached an agreement with Qaddafi that one of the four oil fields - which were given to Ukraine in 2003 and which it has lost since -- will be returned to Kiev."

Yushchenko went on to add that the Libyan leader will be traveling to Ukraine later this year, and that the construction of a refinery in the Ukraine by Libya would be discussed during the visit, AFP reported.

Yushchenko made his first official visit to Libya last week amid tense relations with Russia which supplies a large part of the gas needed in Ukraine.

As a result of these strained relations, Kiev has been trying to tap other energy sources notably in oil-rich Libya.

Source: Press TV