Tag Archives | Glencore

NOC warns Oil Market against Illegal Contracts

By John Lee. The National Oil Corporation (NOC) has reasserted that it is the only body authorised by the United Nations to export crude oil and oil products from Libya. The NOC confirmed that term contracts covering the entire production for 2017 for all Libyan crude grades have already been entered with 16 international oil […]

Glencore “Extends Libyan Oil Deal”

By John Lee. Reuters reports that Swiss-based commodities giant Glencore has extended a deal with the National Oil Corporation (NOC) to be the sole marketer of one third of the country’s current crude oil production. In late 2015, Glencore reached an exclusive deal with the National Oil Corporation (NOC) to take all exports of the […]

Glencore seeking to Increase Oil Trading with Libya

By John Lee. Reuters reports that Glencore is seeking to increase oil trading with Libya, Iran and Iraq to beat what looks to be a much tougher trading environment compared with last year. Alex Beard, the company’s global head of oil, told the Reuters Commodities Summit: “We’re very happy with our relationship with NOC and we’ve […]

Rival NOCs Agree Oil Exports from Hariga

The head of the Tripoli-based National Oil Company (NOC), Mustafa Sanalla, and Nagi el-Maghrabi of the eastern-based NOC, met last week to agree on steps to unify the NOC and lift the blockade at Hariga port. The meeting was held at the direction of the Presidency Council and was the fourth such meeting between Mr […]

Eastern NOC blocks Tanker from Loading

By John Lee. A Maltese-flagged tanker was blocked from loading crude oil at the Hariga oil export terminal on Tuesday. According to Reuters, workers at the terminal had been instructed not to handle the tanker — the 250-metre Seachance — which was due to lift around 350,000 barrels of oil at the instruction of the […]

Tobruk Calls Glencore Oil Deal Worthless

Libya’s internationally-recognised government has said that Glencore has signed its new oil deal with the wrong people, according to a report from The Guardian. The Switzerland-based company agreed last week to buy up to half of the oil exports from the Tripoli-based National Oil Corporation (NOC), where an Islamist-backed government is based. Under the deal, […]

Glencore Lands Big Libyan Oil Deal

Swiss-based Trading house Glencore has reportedly secured a deal to buy as much as half of the oil Libya is currently exporting. Reuters reports that the arrangement with the National Oil Corporation (NOC), which began in September, allows Glencore to load and finds buyers for all the Sarir and Messla crude oil exported from the […]

Glencore in 18-mth Deal with NOC

Libya’s Tripoli-based National Oil Corporation (NOC) has reportedly agreed an 18-month deal under which Swiss-based Glencore will supply around 300,000 t/month of high-sulphur gasoil in exchange for lifting all crude exported from Libya’s eastern Marsa el-Hariga terminal. According to the report from Argus, Marsa el-Hariga normally ships around 130,000-160,000 bpd of Sarir and Messla crude, […]