ADNOC Issues Eighth Spot Tender Since June as UAE Ramps Up Crude Exports

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The Abu Dhabi National Oil Company (ADNOC) has issued its eighth spot tender since June, aiming to increase crude oil exports after exiting OPEC. The tenders include various crude grades for loading in October and November, targeting international markets.

The national oil company of the United Arab Emirates has issued its eighth spot tender since June, trade sources told Reuters on Tuesday, as the Gulf producer that has just left OPEC pushes to sell increased crude volumes to international markets. Abu Dhabi National Oil Company (ADNOC) is offering in the latest spot tender cargoes of the Upper Zakum, Umm Lulu, and Das crude grades for loading in October and November, according to Reuters’ sources. These crudes are produced within the Persian Gulf but ADNOC offers buyers the optionality to…