President of Ukraine Viktor Yushchenko reports his country will pump Libyan oil following a Contract with the Libyan leader Muammar Gadhafi. Yushchenko admitted in his latest speech, "We planUkraine to produce its own oil in Libya. We have concluded an agreement with Qaddafi that one of the four oil fields - which have been given to Ukraine in 2003 and which it has lost since - will be returned to Kiev."

Yushchenko also said that the Libyan leader will be visiting Ukraine later this year, and that the construction of a refinery in the Ukraine by Libya would be discussed during the visit, AFP reported.

Yushchenko has made his first official visit to Libya last week amid tense relations with Russia which provides a large part of the gas needed in Ukraine.

As a result of these strained relations, Kyiv has been trying to tap other energy sources notably in oil-rich Libya.