Glencore (LON:GLEN) has lost its exclusive marketing rights for two of Libya’s main crude oil export grades, having held them since late 2015, Reuters has revealed, quoting sources with knowledge of the matter. The commodities giant had exclusive rights on the two grades until the end of last year. The group’s shares lost more than 28 percent of their value over the past year, as compared with about an 11-percent drop in the Footsie. Glencore loses rights to Libyan oil gradesTrading sources with direct knowledge of the matter told Reuters that Glencore had lost its exclusive marketing rights to the Sarir and Messla grades. As of 15:09 GMT, Thursday, 10 January, Glencore Xstrata PLC share price is 290.35p.
Source: Libya Today January 10, 2019 15:22 UTC