DUBAI/SINGAPORE: Abu Dhabi National Oil Company (ADNOC) started producing and exporting a new crude grade known as Umm Lulu this month, a company spokesman said on Wednesday.
Umm Lulu is a blend produced from its Umm Lulu and SARB fields, operated by ADNOC Offshore, with initial production of 50,000 barrels per day (bpd).
The fields are expected to contribute to ADNOC's production capacity target of 3.5 million bpd by the end of 2018, the spokesman said last month.
ADNOC has sold two 500,000-barrel cargoes of the crude loading in November to South Korea's second largest refiner GS Caltex and India's Reliance Industries Ltd at close to parity to the official selling price (OSP) for Das Blend, trade sources said.
GS Caltex and Reliance could not be reached for immediate comment.
Umm Lulu has an API gravity of 38.7 degrees and contains 0.7 percent sulphur.
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