Abu Dhabi National Oil Company has issued a tender to sell crude oil from the United Arab Emirates, the third one since the start of this month, trade sources said on Monday.
The company is offering cargoes of Upper Zakum, Umm Lulu and Das crude for June to August loading. Buyers can bid up to 2 million barrels of oil, the people said. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. The three crude grades are produced from fields within the Gulf and are exported through the Strait of Hormuz. Similar to the previously issued tenders, buyers can purchase on a free-on-board basis from Fujairah storage, Zirku or Das Island, as well as via ship-to-ship transfer in the Fujairah to Sohar range and Malaysia. Or they can buy on a cost and freight basis. The cargoes will be priced against the grades' official selling prices or Dubai benchmark. Since the U.S.-Israeli war on Iran began, ADNOC has managed to export some oil out of the strait with tankers' location trackers shut off to avoid attacks. The shipments were either unloaded by STS transfer to a vessel that later carried the oil to the buyer or sailed directly to the buyer
