UK, Libya agree need to improve transparency on oil

L'Aquila, Italy, 10 July-(ANA)-Britain and Libya have agreed that oil producers and consumers need to improve transparency to help calm volatile oil markets, a spokesman for British Prime Minister Gordon Brown has said.

Brown and other leaders from major economies are worried that rising oil prices pose a threat to any recovery as the world tries to dig itself out of a deep recession.

'There was agreement on the need for better consumer and producer dialogue over oil,' the spokesman told reporters after Brown met Libyan leader Muammar Gaddafi at the G8 summit in Italy.

According to the spokesman, Brown said it was 'important to find ways to persuade other countries to follow Libya's example' in scrapping its nuclear arms programme.

Libya agreed in 2003 to abandon its nuclear programme and allow access to international weapons inspectors.

The move further helped bring the North African Arab country back into the international fold after years of isolation. (ANA)

FA/ANA/10 July 2009---