Royal Dutch Shell lifts first oil shipment from Libya in 5 years

  • Libyan Express |
  • Saturday 19 August 2017

A view of the Zueitina oil installation in Libya in 2013. The installation is one of three Libyan oil ports that have been closed for over a year. The three are set to reopen now that a unity government has arrived in Tripoli, militia leaders guarding the facilities said Thursday. PHOTO: MAHMUD TURKIA/AFP/GETTY IMAGES

Royal Dutch Shell has lifted a cargo of 600,000 barrels of crude oil from Libya’s Zueitina port, its first from the war-torn north African country in 5 years, two industry sources told Reuters on Saturday.

“Libya is a significant resource holder and Shell International Trading and Shipping Company Ltd (STASCO) has a history marketing Libyan crudes,” a Shell spokesperson said.

“We welcome new business opportunities with Libya’s National Oil Corporation (NOC). However, we don’t comment on specific trading deals,” the spokesperson added.

(Source: Reuters)

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  • It’s going to be interesting to see how Libya rebuilds itself with the royalties received from the sale of its oil.
    How will the energy market react to the resumption of Libyan petrochemicals, (Oil & Gas), on the market?
    Will, Royal Dutch Shell give (NOC) a fair price and finally?
    How will the financial market price the Oil companies?