Trading house Glencore has secured a deal to buy as much as half of the oil Libya is currently exporting, market sources said, as it looks to boost trading to help offset flagging profits from mining. For war-torn, cash-strapped Libya it offers steady sales to international buyers and shifts to Glencore the risks associated with loading oil and chartering vessels at ports where operations have become more unpredictable due to the conflict in the north African nation. Under the arrangement with Libya’s state-run National Oil Corp. (NOC), which began in September, Glencore loads and finds buyers for all the Sarir and Messla crude oil exported from the Marsa el-Hariga port near the country’s eastern border with Egypt. While Libyan oil exports peaked at 1.6 million barrels per day, battles […]