Oil reserves in Libya are the largest in Africa and among the ten largest globally with 46.4 billion barrels (7.38×109 m3) as of 2010. ... The drilling of oil wells in Libya was first authorized by the Petroleum Law of 1955. The National Oil Corporation is the largest oil company of Libya.
LIBYAN CRUDE OIL (FOB 15 Libyan ports)
Oil reserves in Libya are the largest in Africa and among the ten largest globally with 46.4 billion barrels (7.38×109 m3) as of 2010. Oil production was 1.65 million barrels per day (262×103 m3/d) as of 2010, giving Libya 77 years of reserves at current production rates if no new reserves were to be found.
Libya is considered a highly attractive oil area due to its low cost of oil production (as low as $1 per barrel at some fields in 2002), low sulfur content, being classified as "sweet crude" and in its proximity to European markets. Libya's challenge is maintaining production at mature fields, while finding and developing new oil fields. Most of Libya remains under-explored as a result of past sanctions and disagreements with foreign oil companies. Libya’s oil revenues nearly tripled in 2017 to US$14 billion as the country managed last year to gradually recover its oil production, reaching 1 million bpd for the first time since 2013.
According to data by Libya’s central bank, the revenues from oil sales almost tripled last year from US $4.8 billion in 2016.
ASSAY USING ESCRIPTION METHOD
Density@ 15 ºC, g/ml 0.8415 ASTM D-4052
Specific gravity@60/60 0 F 0.8421
Calculation API gravity 36.5
Calculation Flash point ( PMCC ), o C -43 ASTM D-93
Reid vapour pressure, psi 5.20 ASTM D-323
Hydrogen sulphide, ppm 4.60 IP 103
Water and sediment content, vol.% 0.05 ASTM D-4007
Sulphur content, wt.% 0.120 ASTM D-4294
Pour point, oC +21 ASTM D-97
@ 70 o F, cSt - ASTM D-445
@ 100 o F, cSt 10.6298 ASTM D-445
Asphaltenes content, wt.% 0.20 IP 143
Conradson carbon residue, wt. % 3.10 ASTM D-189
Ash content, wt.% 0.012 ASTM D-482
Characterisation factor 12.1 UOP 375
Salt content (as Nacl) mg/l 5.0 IP 77
Vanadium, ppm 0.146 ASTM D 5708
Nickel, ppm 3.954 ASTM D 5708
Calcium, ppm 0.552
Dry ashing Potassium, ppm 0.19 Dry ashing.
Commodity: LIBYAN CRUDE OIL
Delivery: FOB Tripoli / FOB Libyan Port
Trial Qty: 1 Million Bbls
Contract Qty: 12 months + Rolls and Extensions
FOB Price: NWE Platts US$ CURRENT PRICE
Commission: US $1.00
INTERMEDIARY NEEDS FEE AGREEMENT WITH BUYER FOR A COMMISSION.
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