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News · Oil & Energy

Libya Sells 1 Million Barrels of Crude to India at $23 Premium

Libya Sells 1 Million Barrels of Crude to India at $23 Premium
16 September 2026, 10:42 · 1 min read

Indian Oil Corp has purchased one million barrels of Libya's Sarir/Mesla crude blend for delivery in November 2026, at a premium of $23 a barrel over Brent prices for October, according to trade sources cited by Reuters on Wednesday.

Trading house Mercuria sold the cargo to the Indian state refiner. The purchase was part of a wider tender in which Indian Oil Corp acquired a total of four million barrels of crude from Libya, Iraq, Angola and Nigeria for November delivery.

Sarir and Mesla, both produced by the Arabian Gulf Oil Company (AGOCO) in south-eastern Libya, together with Es Sider, form part of the mainstay grades underpinning Libya's crude exports, which have benefited from a rebound in production over the past two years following the resolution of disputes over the Central Bank and oil-port closures.

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