China’s Unipec buy 100,000 barrel of Libyan oil daily for 2012

The Chinese Company “Unipec” has agreed to buy about 100,000 barrels of crude oil per day from Libya under a term contract for 2012, as this deal is expected to raise China’s crude purchases from the North African exporter –Libya- after disruptions in supplies during 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) is expected to cover the supply from January till December for this year.

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 the civil war in Libya caused damages in production facilities and halted exports for about six months, as Reuters stated.