Libya's NOC Chooses Italian, Russian Gasoline Suppliers for 2012

Libya's National Oil Corporation, NOC, has said that Russia's LUKOIL and Italy's Saras were among a pool of four or five firms chosen to supply the country with up to three million tonnes of gasoline in 2012.

With Libya's oil industry rapidly recovering from an eight-month conflict that halted its oil production for most of the year, a senior source at the NOC has been reported telling Reuters: "The best offers have been decided and we have informed the companies that their offers have been accepted,"

LUKOIL and Saras beat up to 35 other companies in the scramble to establish ties with Libya's new oil chiefs. Additional volumes had also been awarded to Greek refiner Motor Oil Hellas and Netherlands-based Tamoil, according to trading sources.

Meanwhile, the NOC has also confirmed that a Greek refiner was among the chosen firms, winning a contract to supply around one cargo per month. The same source also told the news agency that it depends, according to their offers, and that some firms have offered more than others.

Libya was Africa's third largest producer before the war, pumping around 1.6 million barrels per day of crude oil and exporting about 1.3 million bpd, mostly to European clients, and earlier this week, interim oil minister Abdulrahman Ben Yezza said that the country's oil output has hit 1 million barrels per day.

The decision to award the volumes to key refiners is seen as a further sign that Libya's oil industry is resuming its pre-war activities.

The NOC on Thursday named 10 companies that will get priority access to term supplies of its crude oil. They included traditional buyers among Europe's refiners that stood by the country's new leaders during the uprising against Al Qathafi's dictatorial regime.

In a move that was seen as increasing their chances of snapping up crude oil deals for the following year, Reuters reported that trading houses Vitol and Glencore were chosen in the past two months to supply Libya's government with fuel until the end of 2011.

(Source: Tripoli Post)

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