Libya is boosting crude sales to Asia, data from state-owned NOC and MEES estimates highlights. NOC is currently finalizing talks on its 2013 crude term contracts and it is expected to build on its growing Asian customer base.
Post-revolutionary transparency over contracts has somewhat dissipated. Although NOC has released figures on sales destinations, previous pledges to publish a list of buyers have not as yet been met. In the wake of Qadhafi’s overthrow, several traders won Libyan crude contracts for the first time. But for 2013, “priority has been given to end-users,” a Libyan oil source notes. And one refiner tells MEES that term volumes to traders have been sharply curtailed. (CONTINUED - 398 WORDS)