Royal Dutch Shell and BP agree to annual deals to buy Libyan crude

Royal Dutch Shell

Royal Dutch Shell and BP agreed to annual deals to buy Libyan crude, underscoring how the North African country’s recovering production and improving security are enticing some of the world’s largest oil companies.

Shell’s deal with Libya’s National Oil Corp., was the first of its kind since 2013, and Europe’s biggest oil company will load its first cargo under the contract within days, according to people familiar with the matter, who asked not to be identified because they are not authorised to talk to the media.