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China's Unipec in 100,000 bpd Libya oil deal for 2012 - traders
March 1, 2012 / 3:01 AM / 6 years ago

China's Unipec in 100,000 bpd Libya oil deal for 2012 - traders

BEIJING, March 1 (Reuters) - China’s Unipec has agreed to lift about 100,000 barrels of crude oil per day from Libya under a term contract for 2012, set to raise China’s crude purchases from the North African exporter after supply disruptions last year.

The volume agreed between Unipec, the trading arm of top Asian refiner China Petroleum & Chemical Corp (Sinopec) and Libya’s National Oil Company (NOC), covered January-December supplies this year, traders with knowledge of the deal told Reuters.

China’s crude imports from Libya fell by nearly two-thirds last year against 2010 to about 52,000 bpd, Chinese customs data showed, as a civil war in Libya hit production facilities and halted exports for about six months. (Reporting by Chen Aizhu; Editing by Chris Lewis)

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