Adnoc to supply full term crude to Asia
Abu Dhabi, July 2, 2012
Abu Dhabi National Oil Company (Adnoc), the main exporter for Opec member the UAE, will supply full contractual crude oil volumes to Asia in August, steady with July, industry sources said on Monday.
Adnoc has notified Asian buyers it will supply its four main grades - Murban, Lower Zakum, Umm Shaif and Upper Zakum - at contractual volumes next month, the sources said.
The state-run firm did not immediately reveal whether it would give buyers the option of asking for all grades' cargoes to be 5 per cent more or less than contracted volumes for August.
Last month, Adnoc granted the so-called tolerance to all four grades for July loading, the sources said. – Reuters