UAE's ADNOC strengthens derivatives import from July-September
ADNOC requests a variety of condensate types, a kind of highly light crude oil normally produced from natural gas fields.
Abu Dhabi National Oil Company (ADNOC) is seeking to buy 2.5 million barrels per month of condensates for delivery between July and September through a tender, a tender document seen by Reuters said on Tuesday.
This comes as UAE refiners seek to replace supplies from Qatar, which were suspended in October following a diplomatic row between the two countries.
ADNOC requests a variety of condensate types, a kind of highly light crude oil normally produced from natural gas fields, from Africa, Europe, the Asia-Pacific region and the United States.
ADNOC said in the document that the maximum volume for each cargo is 1 million barrels and bids should be priced compared to the average price of Dubai on the platform Platts for the month of delivery itself.
Offers must be submitted no later than April 20 and remain in effect until 30th.
(With inputs from Reuters)