ConocoPhillips (COP) has purchased a cargo of Libyan crude from Vitol Holding, making it the first U.S. oil major to buy the country's oil since Col. Moammar Gadhafi's fall, trade sources told Dow Jones Newswires Friday.
ConocoPhillips (COP) has purchased a cargo of Libyan crude from Vitol
Holding, making it the first
U.S.
oil
major to buy the country's oil since Col. Moammar Gadhafi's fall, trade sources
told Dow Jones Newswires Friday.
The sale to Conoco marks another step towards a return of Libyan exports,
following the resumption of production at Libyan joint ventures with Eni Spa
(E) and Total SA (TOT) in recent days and the sailing of the first shipment of
post-conflict crude on Tuesday.
In a sign that
U.S.
oil
companies are eager to return to the country, a Libyan oil field partly owned
by Occidental Petroleum (OXY) is set to restart production next week, making it
the first
U.S.
company to re-enter the country.
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