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Article: LIBYA - Marketing.
- Article from:
- APS Review Oil Market Trends
- Article date:
- July 16, 2007
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Libya's main markets for crude oil and products are Italy, Germany, Spain, France, Austria, Greece, Britain, Switzerland, the UK, India, China and South Korea. Exports to the US were resumed in 2004 after the lifting of American sanctions.
Libya's main export grade is es-Sider (36-37[degrees] API), a blend of crudes produced by Waha Oil Co. (a NOC JV with US firms). Other export grades include Bu Attifel (41[degrees]), Brega (40[degrees]), Sirtica (40[degrees]), and Sarir (38[degrees]). The crude oils are priced on monthly basis and pegged to Dated Brent.
Over 85% of crude exports are sold on term basis. NOC's biggest term customers for crudes are Agip ...