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Friday 24 October  
Colonel Gaddafi
News Desk's picture
Ridderkerk, Netherlands
Ridderkerk, Netherlands

Gaddafi's Dutch millions

Published on : 23 February 2011 - 5:03pm | By RNW News Desk (photo: Flickr/hans&carolyn)
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Libyan leader Muammar Gaddafi keeps part of his billion-dollar empire in the Netherlands. Tamoil, the Libyan state oil company, which has around 160 petrol stations in the Netherlands, is located in the town of Ridderkerk.

An investigation by Dutch newspaper de Volkskrant shows that Tamoil is a subsidiary of Oilinvest, which is headquartered in Monaco and is active in other European countries. The company trades in crude oil and refined petroleum products, transport, refineries, storage and distribution of oil. It also markets and sells lubricants.

A company which extracts oil and gas for Colonel Gaddafi in Libya, France and Canada is also registered at the same address. 35 people work in the offices in Ridderkerk. In 2009 Tamoil made a nett profit of 26 million euros on a turnover of 7.7 billion euros.

Another substantial part of Gaddafi’s fortune is in Italy, the former colonial power in Libya. Tamoil, for example, is the biggest player in the fuel market there. Colonel Gaddafi also owns shares in UniCredit, one of the biggest Italian banks, and in Finmeccanica, which produces defence equipment. Financially less impressive, but still worth mentioning, is the Libyan leader's stake in football club Juventus.

All the Colonel’s assets are bundled in the umbrella investment company Great Socialist Peoples Libyan Arab Jamahiriya, which has been headed by Gaddafi himself since 1969. De Volkskrant estimates his total financial worth at 60 billion euros. The lion’s share, over 40 billion, is located in Libya itself.


© Radio Netherlands Worldwide




Anonymousbaba 6 March 2011 - 9:24am / angola

how is the uk, us and france interested in Libya case, while they are fueling unrest in the arab streets. why, they can contribute troops to ivory coast, much especially the french to stop the violence in that country..they are interesting in the libya oil,and not libya people..

SAINT ALFRED. 3 March 2011 - 1:44pm / nigeria

pls,someone should remind muammar gaddafi dat genocide trailer awaits him.dat shooting his people wil not help the matter.he should handover like his colleagues Mr BEN,Mr MUBARAK.maybe,his offence will be reduced.him and his son will soon go will only take days for people of libya to be free from boundage and dictatorship of him and his wil be zimbabew.thanx

Anonymous 2 March 2011 - 4:49am

ah, Gaddafi has that Charlie Sheen look. both bonkers.

gunnar-sweden 1 March 2011 - 5:01pm / Sweden

One cannot be sure these reporters know what they are writing. I cite:
"the umbrella investment company Great Socialist Peoples Libyan Arab Jamahiriya, which has been headed by Gaddafi himself since 1969. De Volkskrant estimates his total financial worth at 60 billion euros. The lion’s share, over 40 billion, is located in Libya itself."

"Great Socialist Peoples Libyan Arab Jamahiriya" is not a company, but rather the official name of the state of Libya ! You only need to read Wikipedia to find that out.

So if you consider that the state of Libya is Gadaffi, then yes he would own all that.
But I think there actually exists a state of Libya. And that Gadaffi is not the principal owner of its properties
although be probably have more than a few fingers involved in the steering of its operations.

NeverEnuf81 2 March 2011 - 9:46am / United States

I can say with great confidence that NONE of these reporters have the slightest clue what they're talking about. A journalism degree does not make an expert in finance or foreign policy or history. They're all assigned topics, they write something, and they look up citations for what they wrote.

I'm in America, where the pundits would be the pride of any dictator: completely uneducated, completely partisan, completely without integrity, and dedicated to voyeuristic stupefaction.

"The daily press is the evil principle of the modern world, and time will only serve to disclose this fact with greater and greater clearness. The capacity of the newspaper for degeneration is sophistically without limit, since it can always sink lower and lower in its choice of readers. At last it will stir up all those dregs of humanity which no state or government can control." – Søren Kierkegaard, 1855

Vera Gottlieb 28 February 2011 - 7:23pm / Germany

The West, out of convenience, looked the other way for far too long.

Anonymous 27 February 2011 - 6:06pm / lalaland

Power always thinks it has a great soul and vast views beyond the comprehension of the weak; and that it is doing God's service, when it is violating all His laws.

Hiram1 25 February 2011 - 5:24am

If you take something that belongs to someone like Gaddifi and he stays in power, you find that he will target you by cutting off fuel. He and other dictators know you can not do without the fuel to run your economy. Walk softly and carry a big stick!

Anonymous 24 February 2011 - 9:05am / Africa

I bet he could buy lyke millions of hundreads of millions of hostess twinkies.

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