Fujairah Oil Industry Zone (FOIZ) Fujairah Oil Industry Zone (FOIZ)
Tankers

ADNOC ramps up exports with its sixth spot crude tender since June

Reuters

UAE state oil giant ADNOC is offering spot crude in a tender, its sixth issued since the start of June as the Persian Gulf producer continues to raise exports, according to sources and a tender document reviewed by Reuters on Friday.

ADNOC offered Upper Zakum, Umm Lulu and Das crude to buyers for August-September loading, according to the document.

Similar to previous offers, buyers can buy 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 oil will be priced at a differential to ADNOC's official selling prices in the corresponding month, the document said.

Bid submission is due on July 14 and valid until July 16, one of the sources added.

ADNOC has sold more than 70 million barrels of crude to refiners and traders during its previous tenders.

(Reporting by Siyi Liu in Singapore; Editing by Ros Russell)