Selling oil across Libya

Chapter 83 Fulfilling Brotherly Duties

American cars have long been competitive with Japanese and German cars in the East Asian market due to their advantages such as powerful engines, solid materials, and high safety ratings.

As a representative of US military vehicles, the Hummer carries a special aura in the minds of many military enthusiasts, holding a particularly unique position.

Qin Rui's purpose in buying Hummer was to improve Libya's level of automated manufacturing; he did not care about profits.

The Hummer factory has already started construction, and employee recruitment is underway.

Unlike other joint venture automakers, Hummer is the first wholly foreign-owned vehicle manufacturer in East Asia. While placing its production plant in East Asia, Qin Rui also placed its R&D center there to prepare for the future development of new energy vehicles.

In 2012, Tesla was still struggling with losses, and BYD's profits had fallen by 94% year-on-year, and it was in an unprecedented trough.

Qin Rui is preparing for the new energy vehicle market in advance, and will enter the market when the time is right.

Unlike Qin Rui's hardline stance, Mukhtar not only failed to withstand the pressure from OPEC, but also the wooing efforts of the African Union and the Arab League, who hoped that Libya would return to the international community.

"After the start of Operation Odyssey Dawn, OPEC divided up Libya's oil quotas, and the African Union and the Arab League suspended Libya's membership. Their actions have seriously hurt Libya's feelings, and I cannot accept them."

Yuri strongly disagreed.

"Yuri, in that situation, they had no other choice."

Mukhtar hopes Yuri will not live in hatred.

"We cannot fall into the same river twice."

Yuri did not accept this reason.

The African Union and the Arab League can choose not to provide assistance to Libya.

But there's no need to kick someone when they're down.

Libya is an initiator of the African Union and undertakes many obligations within the AU that go beyond its own responsibilities, making significant contributions to the AU.

Some so-called "brotherly countries" in the Arab League even sent their air forces to participate in Operation Odyssey Dawn, committing numerous bloody crimes in Libya.

The Libyans remember these debts.

"Rejoining OPEC is also an option, with our oil quota increased to 250 million barrels per day."

Qin Rui made an outrageous demand.

Before the launch of Operation Odyssey Dawn, Libya's daily oil quota was approximately 147 million barrels, while its actual production was approximately 156 million barrels, about 6% higher than the quota.

OPEC's target total production remains around 2500 million barrels per day (excluding Iraq).

"Are we currently producing that much oil per day?"

Mukhtar was surprised.

"Not yet, but it should be around this time next year."

Qin Rui is confident in Libya's oil production.

Libya's oil extraction costs are as low as single digits, making it easy to increase production.

"Other member states are unlikely to agree; perhaps it would be possible if it were 200 million barrels."

Mukhtar isn't very confident about the 200 million barrel figure either.

"Then we'll quit permanently."

Qin Rui will not only withdraw from OPEC, but will also not participate in the OPEC+ cooperation mechanism.

"If we withdraw permanently, we may face punishment from OPEC."

Mukhtar reminded Qin Rui that one should not act impulsively in international affairs.

"They don't have that ability."

Qin Rui was not worried at all.

OPEC's so-called "punishment" refers to the fact that OPEC's "core countries" suppress oil prices by increasing production beyond expectations, using their low-cost advantage to put greater economic pressure on non-compliant countries that are heavily reliant on oil revenue, thus forcing them to comply.

Coincidentally, the cost of oil extraction in Libya is also low, with the cost per barrel being as low as single digits.

Although Libya's income is also heavily dependent on oil.

Compared to other oil-producing countries, Libya's biggest advantage is its small population and low expenditures. Even though the oil-rich country can withstand the losses caused by depressed oil prices, other member states cannot.

So, under these circumstances, OPEC still dared to threaten Libya.

Qin Rui simply couldn't understand these people's thought processes.

"Tiger, we cannot isolate ourselves from international organizations; we must seek the protection of our allies."

Mukhtar harbored unrealistic fantasies about "alliance".

"When Libya was being bombed by the coalition forces, did our so-called allies provide us with any form of assistance?"

Qin Rui has completely given up on the idea of ​​forming an alliance.

"That's because of the King of Kings. If he hadn't made enemies on all sides, Libya wouldn't be isolated and helpless."

Mukhtar is stubborn.

"Mr. President, let's face it. If it happens again, they still won't provide any form of assistance to Libya."

Qin Rui's multi-pronged approach was aimed at freeing Libya from its dependence on a single source of income.

If it weren't for this reason, Qin Rui would never have bothered getting involved in the messy waters of the Simandou iron ore mine. Wouldn't it have been better to comfortably sell oil and make investments?

Libya will not bother to develop any new energy sources in East Asia. With its income, it would not be difficult for Libya to provide every citizen with a luxury car.

Instead of paying dues for those insects.

Qin Rui prefers to buy stocks in the United States and East Asia.

Mukhtar remained silent for a long time, then took his leave, looking somewhat dejected.

"Isn't it too cruel of you to treat our president like this?"

Yuri's tone was equally disrespectful to the president.

"I've already agreed to rejoin OPEC, what more do you want?"

Qin Rui did not consider this cruel.

The cruelty lies with the Libyan civilians who, facing NATO bombing, have no one to turn to for help.

He was a colonel who held a high position of power during his lifetime, but after his death, his body was left exposed in a cold storage room for people to visit and take pictures.

Even the warlords in Guinea who were easily manipulated.

Mukhtar's attempt to distribute power was unsuccessful.

Mukhtar signed a series of agreements during his trip to the United States, including purchasing Boeing aircraft and C130s from the US, and also pledging to purchase no less than $100 billion in US Treasury bonds over the next two years.

Boeing and C130 Qin Rui are acceptable.

What exactly is the US Treasury bond?

Qin Rui preferred to invest his money in the US stock market and buy Tesla stock.

Boeing and C130 aircraft cannot be produced in East Asia, and Qin Rui doesn't want to fawn over Europe, so he considers it as paying protection money to the United States and buys them anyway.

While US Treasury bonds are one of the most stable investment channels internationally, their returns are certainly not as good as Tesla stock.

"Olange recently went to Tunisia and Algeria, is now in Niger, and is next going to Chad and Egypt. He's been making a roundabout trip around us, and he doesn't seem to have any good intentions."

Yuri warned Qin Rui that Libya might face retaliation from France.

First Total, and now Guinea.

Although the attack on Total's exploration team and the shelling of French troops had nothing to do with Libya, the French may not think so.

"As a brother nation, I believe we have an obligation to help our brothers break free from French colonialism and gain true freedom."

Although Qin Rui will not return to the African Union, he can still fulfill his obligations as a "brother".