Commodities trader Glencore has signed its first contract to deliver fuels to Libya’s interim council, industry sources said, in a further sign that rival Vitol is losing its position as top supplier to rebels that are now interim leaders.
“They are supplying products,” said an industry source in Libya familiar with the transaction.
It was not clear when delivery would begin but a second industry source said the contract was conditional on the lifting of UN sanctions on Libya.
Vitol, along with Qatar, was a top supplier for the rebels in east Libya during the first few months of the revolt and, while it is still sending fuel, the National Transitional Council, or NTC, has diversified its business partners.
Over the past week, Russia’s Gunvor and France’s Total have supplied their first tankers to Libya since the conflict between rebels and forces loyal to Muammar Gaddafi began in February.
Even during peacetime, Libya relied on imports of fuels such as gasoline because of insufficient refining capacity. Import requirements have surged since February due to refinery outages.