London-listed commodities trading giant Glencore is today taking delivery of the fifth shipment of Libyan crude since the start of the revolution that has deposed Colonel Gaddafi. The shipment is Glencore’s first from Libya since March 2011.
Glencore’s 600,000 barrel tanker, the NS Creation, is due to arrive in Tobruk today for loading, according to live ship tracking data AIS cited by Reuters, who calculate the load is worth a nominal $65 million based on current Brent oil prices near $109 a barrel.
In addition to the post-September shipments, the Libyan NTC agreed an oil marketing deal with Qatar during the conflict, lifting 1 million barrels of oil with a value of around $100 million.
Trade and shipping sources told Reuters that another two tankers were planned to load from Tobruk in October, with at least one of these being offered by Libyan oil firm Agoco via tender. Reuters has also drafted a table of the shipments of post-Gaddafi crude made since September, reproduced below:
TANKER Â Â Â Â Â Â Â Â Â Â SIZE (barrels) Â Â Â Â Â Â Â Â Â Â BUYER Â Â Â Â Â Â Â Â Â Â DESTINATION
Hellas Warrior      381,000                ConocoPhilips    Fos, France
Trident Hope       575,000                OMV             Trieste, Italy
Unknown          500,000                Internal           Zawiyah, Libya
Seaborn           600,000                OMV/Petroplus    Trieste, Italy
NS Creation        600,000                Glencore         Unknown
