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Europe Tackling Libyan Oil Shortage, Euro Debt, Envoy Says

Europe isn’t worried about the loss of Libyan oil supplies or Libyan leader Muammar Qaddafi’s threat to cut off contracts with Western energy companies, the European Union’s envoy to Washington said.

“I am told that there is not, for the moment, a problem in terms of oil supply” caused by the drop in Libya’s oil exports, Joao Vale de Almeida, the EU’s ambassador to the U.S., said in an interview yesterday at Bloomberg’s Washington bureau.