Tag Archives | Vitol

Libya and Oil: Common Sense Prevails

By Sir Vincent Fean, The Ambassador Partnership LLP. Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News. Sir Vincent Fean’s 39 years of diplomatic experience include serving as Consul-General in Jerusalem, Ambassador to Libya (2006-10), and High Commissioner to Malta.  An Arabist, he has engaged […]

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 […]

Vitol Close to Deal with NOC

The Financial Times reports that Vitol, the world’s biggest independent oil trader, is close to finalising a deal with the Tripoli-based National Oil Corporation (NOC) to supply billions of dollars of fuel. The new contract would see Vitol deliver fuel to all of Libya, including the heavy oil required to support local infrastructure. Vitol CEO Ian […]

British Minister in Tripoli

The UK’s Minister of State for International Development (DFID), Alan Duncan, has arrived in Tripoli, reports Libya Herald. He said that the visit to Libya was his first, but that his previous career as an oil broker meant that he had traded in Libyan oil in the past. According to the report, Duncan is credited […]

Libya Tamoil to Spend Millions on Refinery in Switzerland

After it was threatened to be forced to suspend operations in its Collombery refinery, the Libyan Tamoil's Swiss branch said it would spend "tens of millions" of Dollars in clean-up of plant plan. Reuters reported last week that the Swiss canton of Valais, best known for the "Toblerone mountain" and world-class ski resorts, in March […]