NOC confirms BP and Shell deals to buy Libyan oil

By Sami Zaptia.


London, 19 January 2018:

Libya’s National Oil Corporation (NOC) chairman Mustafa Sanalla confirmed to Libya Herald today that International oil giants BP and Shell have resumed buying Libyan oil. He did not provide any details of the deals.

Bloomberg, meanwhile, said that the BP-Shell deals stress Libya’s oil production recovery and an improving security situation around Libya’s oil ports and installations.

Bloomberg says this is Shell’s first Libyan oil purchase sine 2013 which is expected to load within the next few days from Zueitina port. BP did not have a purchasing deal in place in 2017.

Libyan oil production averaged around 800,000 bpd in 2017, the highest since 2013. This month its oil production went above the 1 million bpd mark after disruptions at the end of 2017.

You must be logged in to post a comment Login