Shell Loads Oil in Libya for the First Time in Five Years
- Libya has also attracted Wintershall, Rosneft this year
- Nation is exempt from OPEC’s agreement to cut oil production
El-Sharara, Libya, in 2004.
Photographer: Benjamin Lowy/Getty ImagesThis article is for subscribers only.
Royal Dutch Shell Plc, the world’s largest oil trader, is said to have loaded its first crude from Libya in five years over the weekend, adding to evidence of the OPEC nation’s comeback.
The cargo on Saturday is for 600,000 barrels of crude from the Zueitina port, according to two people familiar with the matter who asked not to be identified because the information is private. A Shell spokesperson declined to comment on the shipment, but said the company’s Shell International Trading & Shipping “has a history marketing Libyan crudes. We welcome new business opportunities with Libya’s National Oil Corp.”