Tons of faith in Libyan oil ... underscored by major crude contracts

[Kate Turlington + 44]

Testimony to the vitality of your crude reserves ... Shell, BP and most recently PetroChina are signing major LIbyan crude contracts regardless of the fact that the country could collapse at any moment. 

[Carlsbad + 19]

Saw that PetroChina agreement last week. That's huge, and these are annual contracts--anything could happen in Libya in a year (or a day). 

[Seleskya + 50]

and I don't think anyone pays enough attention to PetroChina. It gets lost in the Shell and BP-type headlines, but it's the third-largest oil company in the world, worth over $230 billion. 

[SRE + 8]

Any idea what sort of "risk-controlling and Force Majeure" clauses Shell, BP and PetroChina are using in their contracts ..... just the usual or anything innovative / special?