Sirte-Messla blend cargo to India in November
Libya – An economic report published by the Indian website Trends in Africa said a deal to sell one million barrels of Sirte-Messla crude blend to state-owned Indian Oil Corporation achieved a record price premium that may be the highest since the outbreak of the Iran war, according to its assessment.
Price premium and delivery terms
The report, whose main economic findings Al-Marsad followed and translated from the English-language site, said the company bought the cargo from Swiss international energy group Mercuria at a premium of about $23 a barrel above October Brent crude prices, with delivery in November.
It described the price as a high valuation of Libyan crude reflecting strong international demand, noting that the premium was the highest differential among the four crude grades offered in the tender.
Asian demand for Libyan crude
The report said the pricing shows strong buyer interest in Libyan crude, especially heavier grades, as refiners carefully assess alternative supplies amid continued geopolitical uncertainty.
It added that the deal highlights the competitiveness of Libyan crude in the Asian market, as a diversified supplier base allows Indian refiners to adjust purchasing strategies in response to changing freight costs, geopolitical risks, crude quality and price differentials.
Supplies outside sensitive export routes
The report considered the Sirte-Messla blend cargo an indicator of the value Indian refiners place on reliable supplies from producers outside the most strategically sensitive oil export routes, and a further sign of the potential value of Libyan crude in international markets.
