Libya names 10 winners for its 2012 oil supplies

Libya's National Oil Corporation (NOC) named 10 companies that will get priority access to term supplies of its crude oil in 2012, including traditional buyers among European refiners that stood by the country's new leaders in its civil war.

A senior source at the NOC said that the following companies would definitely receive crude oil volumes next year: Repsol , Total, Eni, Royal Dutch Shell, OMV, ConocoPhillips, Saras, BP, Galp and Exxon Mobil.

"We will give priority to all these companies," said the source, adding that the full list will be published on the NOC's website in the next few days.

Oil traders at two firms on the list confirmed that they had been contacted by the NOC, but did not disclose exact volumes. An industry source also said that Italian refiners ERG and Api also received some supplies.

The 2012 allocations may come as an initial disappointment to oil trading companies who were among the roughly 50 companies that attended talks last month in Istanbul on future supplies.

Libya's powerful oil body the NOC traditionally only signed term contracts with end-users but its post-revolution leaders have invited trading firms to compete for volumes.

The NOC source said that it might make further allocations to other firms, such as trading companies Vitol and Glencore.

"BACK TO THE OLD WAYS"

In another sign that Libya's oil industry is resuming its normal activities, the NOC on Thursday issued its first Official Selling Prices (OSPs) since the conflict, traders said.

This included volumes of the Sarir grade which has been sold separately by NOC subsidiary Agoco since the conflict began inFebruary.

"It looks like it (the NOC) is reverting back to the old ways," said a Mediterranean crude oil trader.

Traders said they are still waiting for the result of Libya's fuel import tenders for 2012, with two trading sources adding they have been invited back to Istanbul for furthertalks.

Following is the table of OSPs for Libyan crude for January loading. Prices are expressed in differentials to Dated Brent per barrel, except for Bouri and Al-Juarf, which are priced against the Urals price assessment in the Mediterranean.

El-Sharara +$1.30

Melittah +$1.20

Brega +$0.60

Zuetina +$0.80

Sirteca -$0.20

Es-Sider +$0.70

BU Attifel +$1.40

Amna +$1.00

Sarir -$0.20

Bouri +$0.25

Al-Jurf +$0.40

(Source: Reuters)

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