Georgian company to import first shipment of Libyan oil in August

Georgia’s Black Sea Petroleum, the operator of the Kulevi refinery, has announced that it will begin importing its first shipments of Libyan crude oil between August 20 and 30.

The company said the shipment will arrive under a crude oil supply agreement signed on July 3, 2026, with an international trading company. The agreement runs through the end of 2027, with an option to extend it for an additional period.

The move to import Libyan oil comes as the refinery faces mounting pressure after the European Union imposed sanctions on it for continuing to refine Russian crude oil.

The measure marks the first time the EU has targeted a major Georgian company as part of its efforts to expand sanctions to entities outside Russia that are believed to help sustain Moscow’s oil revenues.

Economy