Glencore has lost its exclusive right to market two of Libya’s crude grades and oil companies like Shell and BP have already had their first allocations of the grades to which the Switzerland-based commodity giant had held exclusive rights since 2015, Reuters reported on Thursday, quoting trading sources with direct knowledge of the events. Glencore held the rights to market Libyan grades Sarir and Messla until the end of last year. The commodity trader was one of the few companies venturing into exclusive crude oil marketing deals with Libya in the wake of the 2011 unrest. Back in 2015, Glencore secured a deal with Libya’s National Oil Corporation (NOC) to buy half of the country’s then oil production of around 400,000 bpd. That deal was for the only relatively stable onshore production in Libya at the time, with civil unrest and port blockades crippling the country’s oil production in […]