Libyan rebel oil official says China will have trouble getting deals

A spokesman for the rebel fighters that entered Tripoli last weekend said in an interview that countries that took “hostile positions toward the TNC [rebel Transitional National Council]” will have difficulties getting new oil contracts, singling out China, Russia and India, Dow Jones reported. The spokeman said the TNC will honor existing contracts. China has already publicly urged Libya to protect its oil assets in the country, but has yet to formally recognize the TNC as Libya’s legitimate government. China received 11% of Libya’s oil production in 2010 out of 1.8 million barrels of oil a day produced in the North African nation last year.