UAE is selling Saudi oil in a rare move, document shows
- Amid rising Gulf security risks, the UAE is tendering Saudi oil from a vessel damaged last month, highlighting regional tensions
NEW DELHI/LONDON: The United Arab Emirates energy ministry is selling 1.7 million barrels of Saudi Arab Light oil via a rare tender, a document showed.
Sources said the UAE was selling the oil loaded on the Gem No. 2 tanker, which was struck by an unidentified projectile last month.
Since the start of the US-Israeli war with Iran, attacks on commercial vessels in Gulf shipping lanes have driven up security risks for maritime traffic and heightened fears over the conflict’s environmental fallout.
The UAE last week said an oil leak from the Gem No. 2 tanker had been stopped.
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The tender mentions the Ministry of Energy and Infrastructure, UAE, under judicial supervision by the UAE Federal Public Prosecution, as the seller.
The tender, which closed on Monday, offered to load the cargo between November 10 and 20 via a ship-to-ship transfer from inside the Gulf, the document showed.
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