ADNOC offers spot crude in 8th tender issued since June, sources say
- ADNOC on Monday offered Upper Zakum, Umm Lulu and Das crude for loading in October and November
SINGAPORE: The Abu Dhabi National Oil Company (ADNOC) is offering spot crude in a tender, its eighth issued since the start of June as the UAE state oil company works to move oil from inside the Strait of Hormuz, trade sources said.
ADNOC on Monday offered Upper Zakum, Umm Lulu and Das crude for loading in October and November.
Bids are due by August 13 and will remain valid until August 14.
The three crude grades are produced from fields within the Gulf and are exported through the Strait of Hormuz.
ADNOC did not offer Murban crude in its latest tender, the sources said.
Similar to previous offers, buyers can purchase on a free-on-board basis at UAE’s Fujairah Storage, Zirku or Das Island.
They can also arrange ship-to-ship transfers at the Fujairah-Sohar range or in Malaysia.
The producer has sold at least 94 million barrels of crude to refiners and traders in its previous tenders, using a shuttle fleet service to move crude out of the Gulf and onto other tankers in the Gulf of Oman.
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