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ADNOC issues eighth spot tender since June as UAE boosts exports

The latest tender offers Upper Zakum, Umm Lulu, and Das cargoes for October and November loading, with options to load FOB from UAE storage sites or arrange transfers elsewhere.

Reported · Written up by our desk · Energy

Abu Dhabi National Oil Company has issued its eighth spot tender since June as the United Arab Emirates ramps up crude sales to global buyers after leaving OPEC, according to Reuters.

ADNOC is offering cargoes of Upper Zakum, Umm Lulu, and Das for loading in October and November, with buyers able to purchase on a free-on-board basis at UAE storage hubs including Fujairah Storage, Zirku, and Das Island.

The company also provides alternatives to arrange transfers at the Fujairah-Sohar range outside the Strait of Hormuz or in Malaysia, giving buyers more routing flexibility.

Reuters reported that ADNOC had sold more than 90 million barrels of crude in spot tenders since early June and has maintained higher export levels by using a shuttle-style approach to move crude onto tankers outside the Strait of Hormuz.

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