Exclusive: Qadhafi talks oil-tanker sales with Russians
Russian investors are on the verge of buying a fleet of oil tankers from Libya’s state-owned General National Maritime Transport (GNMTC), says a source close to the negotiations
GNMTC is under the control of Muammar Qadhafi’s son Hannibal. According to sources, he has spent recent weeks trying to sell the company, or its vessels, as part of a bid to settle debts and raise much-needed cash for the war-ravaged regime. Tighter EU sanctions on regime-controlled ports in Libya and Nato’s interdiction of vessels carrying fuel to supply Qadhafi have severely disrupted GNMTC’s ability to trade. A sale of some of the vessels may be an effort to circumvent sanctions. The Russian party would pay $300 million for some of the GNMTC fleet: the company’s website lists 15 vessels, although other sources say it owns 22. Its book value before civil war broke out was $1.3 billion, sai
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
