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24/11/2011
ISTANBUL (Reuters)
Informed a senior official of the National Oil Corporation, told Reuters that the Libyan National Transition Council will notify the winners of Libyan crude oil contracts for the year 2012 within two weeks and is scheduled to meet senior officials this week with about 50 oil companies and big business hopes to win contracts.
The process will determine the best access to low-sulfur light oil from the OPEC member state which is expected to reach the nominal value of the daily exports of 141 million dollars a day after returning to their levels of exports after the full supply disruptions during the war.
Reuters had reported last week that the National Oil Corporation expects to return exports to pre-war levels of about 1.3 million barrels per day by the end of 2012 in reference to the flow of crude to international markets may be growing faster than expected.
Ahmed Shawki, Director General of Oil Marketing "We ask customers to send their requirements and we will give allocations to companies that meet our standards within ten days or two weeks," adding that he will then invite the winning companies to Tripoli in December to sign the contracts. And Libya is offering tenders for the purchase of oil products in 2012 earlier this month.
Said Shawki, who left the National Oil Corporation after 12 years in 2007 after the appointment of Shukri Ghanem, chairman of the board of directors that he and a few senior officials planned to meet with the organization's senior officials from 48 oil companies this week.
The meeting will include major oil companies and former agents of Libya, including ENI, ConocoPhillips, along with Trafigura and Vitol for oil trade and U.S. investment bank Morgan Stanley.
The exact details of the volume of sales instant compared to futures contracts are not yet available but Shawki said that about 80 percent of available supplies in 2012 will be sold through the contract time limit fixed in accordance with the official prices determined monthly. "It would be much larger than in decades on credit. There will be immediate sales from time to time, perhaps by 20 percent, and went on to say that the levels of prices will be competitive. "We want to show that we are loyal to our nation, such as those who fought in the war to obtain the highest price for our oil, crude." He said that the National Oil Corporation will consider well the ability of oil companies to pay regularly with the increasing reluctance of financial institutions from lending amid growing concerns about the debt crisis of Europe. "We'll have all our clients only if they meet our standards of credit. Would have to exclude those who do not meet this. We have a great concern because of the global crisis. "
Before the uprising against the regime of Muammar Gaddafi in February, Europe was the largest buyer of Libyan oil and acquired Italy alone some 32 percent. It will be the allocation of oil contracts an important test of the ability of the leaders of the National Oil Corporation to conduct international transactions without favoritism that critics say have marred the final stages from the rule of Gaddafi. Shawki said that he is no longer a policy by which the institution's marketing department can accept personal gifts from oil companies that are looking to reach out to the administration.
He said he rejected a number of gifts from traders during the meetings of the past two days. "I used to bring gifts such as watches and pens and invite officials of the institution to fine dining restaurants and nightclubs with girls. Trying to monitor any point of weakness. Now do not accept anything .. no gifts or invitations to dinner He added that he will be invited companies such as PetroChina and Aonepk Chinese, which delayed their government to recognize the rulers of Libya for new presentations for benefits in the decades 2012 and is scheduled to meet with these companies this week. He said that under the new rules will have on the oil companies in Libya, such as Tamoil, based in the Netherlands which was involved in the trade of oil and derivatives in the past enter the competition under the same conditions that apply to foreign companies. "The Snaamlhm like any other company. We told them that they should provide the best price. [b] [You must be registered and logged in to see this link.]
24/11/2011
ISTANBUL (Reuters)
Informed a senior official of the National Oil Corporation, told Reuters that the Libyan National Transition Council will notify the winners of Libyan crude oil contracts for the year 2012 within two weeks and is scheduled to meet senior officials this week with about 50 oil companies and big business hopes to win contracts.
The process will determine the best access to low-sulfur light oil from the OPEC member state which is expected to reach the nominal value of the daily exports of 141 million dollars a day after returning to their levels of exports after the full supply disruptions during the war.
Reuters had reported last week that the National Oil Corporation expects to return exports to pre-war levels of about 1.3 million barrels per day by the end of 2012 in reference to the flow of crude to international markets may be growing faster than expected.
Ahmed Shawki, Director General of Oil Marketing "We ask customers to send their requirements and we will give allocations to companies that meet our standards within ten days or two weeks," adding that he will then invite the winning companies to Tripoli in December to sign the contracts. And Libya is offering tenders for the purchase of oil products in 2012 earlier this month.
Said Shawki, who left the National Oil Corporation after 12 years in 2007 after the appointment of Shukri Ghanem, chairman of the board of directors that he and a few senior officials planned to meet with the organization's senior officials from 48 oil companies this week.
The meeting will include major oil companies and former agents of Libya, including ENI, ConocoPhillips, along with Trafigura and Vitol for oil trade and U.S. investment bank Morgan Stanley.
The exact details of the volume of sales instant compared to futures contracts are not yet available but Shawki said that about 80 percent of available supplies in 2012 will be sold through the contract time limit fixed in accordance with the official prices determined monthly. "It would be much larger than in decades on credit. There will be immediate sales from time to time, perhaps by 20 percent, and went on to say that the levels of prices will be competitive. "We want to show that we are loyal to our nation, such as those who fought in the war to obtain the highest price for our oil, crude." He said that the National Oil Corporation will consider well the ability of oil companies to pay regularly with the increasing reluctance of financial institutions from lending amid growing concerns about the debt crisis of Europe. "We'll have all our clients only if they meet our standards of credit. Would have to exclude those who do not meet this. We have a great concern because of the global crisis. "
Before the uprising against the regime of Muammar Gaddafi in February, Europe was the largest buyer of Libyan oil and acquired Italy alone some 32 percent. It will be the allocation of oil contracts an important test of the ability of the leaders of the National Oil Corporation to conduct international transactions without favoritism that critics say have marred the final stages from the rule of Gaddafi. Shawki said that he is no longer a policy by which the institution's marketing department can accept personal gifts from oil companies that are looking to reach out to the administration.
He said he rejected a number of gifts from traders during the meetings of the past two days. "I used to bring gifts such as watches and pens and invite officials of the institution to fine dining restaurants and nightclubs with girls. Trying to monitor any point of weakness. Now do not accept anything .. no gifts or invitations to dinner He added that he will be invited companies such as PetroChina and Aonepk Chinese, which delayed their government to recognize the rulers of Libya for new presentations for benefits in the decades 2012 and is scheduled to meet with these companies this week. He said that under the new rules will have on the oil companies in Libya, such as Tamoil, based in the Netherlands which was involved in the trade of oil and derivatives in the past enter the competition under the same conditions that apply to foreign companies. "The Snaamlhm like any other company. We told them that they should provide the best price. [b] [You must be registered and logged in to see this link.]
