NOC’s Glencore supply deal put in doubt by eastern rival

By Libya Herald reporters.

Tripoli,  23 November 2015:

The government appears to be threatening to block NOC’s oil sales to major international commodities . . .[restrict]trader Glencore,  passing through the Hariga export terminal near Tobruk. The warning has reportedly come from the separate NOC which has been set up in an attempt to corner revenues from eastern oil fields.

There is now confusion as to whether the three-month contract for 150,000 barrels a day, reported in the Libya Herald yesterday, did actually begin in September. According to the news agency Bloomberg, to which NOC confirmed that that the deal existed but gave no further details, the supply agreement is still only a proposal.

With the country’s largest export terminals at Brega, Ras Lanuf and Zuetina now closed, production in some fields has had to been suspended. Oil output, which at the beginning of this month was around 412,000 b/d is now reported to have dropped below 300,000 b/d.

Hariga, the only operating terminal in the east has a capacity of 51,000 b/d. [/restrict]