The Abu Dhabi National Oil Company (ADNOC) has officially announced a spot tender for selling crude oil cargoes sourced from the United Arab Emirates, as detailed in a document accessed by Reuters.
This offering consists of cargoes including Upper Zakum, Umm Lulu, and Das crude on a cost-and-freight (CFR) basis. Interested buyers in this tender may specify their delivery destinations when submitting their bids.
Bidders can propose requests for as much as 2 million barrels of crude oil under this tender. The shipment period stretches from June through September.
The crude grades are extracted from offshore fields within the Arabian Gulf, typically exported via the Strait of Hormuz, a critical passage for global oil transportation.
As per the tender documentation, the pricing for the crude will be determined by a differential linked to ADNOC’s official selling prices (OSPs) or the Dubai crude benchmark.
This tender announcement arrives while global energy markets remain vigilant regarding oil supply chains and regional affairs in the Gulf. ADNOC’s new offering enables buyers to have flexible delivery options, effectively enhancing the crude supply from the UAE.
Included in the tender are some of ADNOC’s primary export crude grades, which hold significant standing in global energy markets and are vital resources for refiners located in Asia and additional regions.
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