International records / Foreign Relations of the United States

8. National Intelligence Estimate 60–70

t could be maintained at current levels for roughly two years with the funds Libya now has on hand. The strong Libyan position in regard to nationalization will diminish in a year or two with rising oil production from the Gulf of Guinea—principally Nigeria—and with substantial increases in world tanker tonnage. In any event, with Libyan financial support for Egypt now running at a high level, Under agreements reached at Khartoum in 1967, Libya gives Eyypt an annual subsidy of $59 million. In late 1969, Qadaffi offered Nasser an additional $96 million and may provide such extra sums occasional…