The Abu Dhabi National Oil Company has launched its eighth spot tender since June. This move comes as the United Arab Emirates expands its oil sales in international energy markets. The national oil company is selling extra crude oil after leaving the OPEC alliance earlier this year.Trade sources say this new tender offers oil for loading in October and November.The oil company is selling three major types of crude oil in this tender.These types are Upper Zakum, Umm Lulu, and Das.
All three oil grades come from production sites within the Persian Gulf.However, the company gives buyers flexible pickup choices.Buyers can pick up oil at local storage hubs like Fujairah, Zirku, or Das Island.They can also arrange ship transfers in the Fujairah-Sohar range.This area sits safely outside the narrow Strait of Hormuz.Buyers can even take delivery as far away as Malaysia.
In a previous tender at the end of July, the company expected to sell millions of barrels.Those sales covered deliveries from August through October. Market data shows that the firm has sold over 90 million barrels of crude oil through spot tenders since June. To move this large volume of oil, the energy firm uses a special shuttle system.Smaller ships transport crude out of the Gulf to larger oil tankers parked outside the choke point.
These quick actions helped the UAE restore its total oil sales back to pre-crisis levels by June.The country keeps moving oil through and around the Strait of Hormuz despite local shipping issues.The UAE officially left the OPEC group on May 1. Since then, the nation has worked hard to solve transport problems near the strait.
The nation relies on three clever methods to keep oil flowing to world markets. First, it shuttles oil through narrow waters to fill big tankers outside the main channel. Second, it uses its full land pipeline network.This main pipeline carries crude oil from western fields to eastern ports, completely bypassing the busy strait. Third, some oil tankers sail through local waters in dark mode with location trackers turned off.
Tracking data shows these plans are working well. The UAE shipped more crude oil out of the region in June and July than any other Gulf producer.National production hit 4.1 million barrels per day in June.That output sets a new record for the nation. Energy analysts expect strong sales to continue as the company offers more spot cargoes to global buyers.
By offering flexible delivery points, the state firm protects its buyers from shipping delays. Refiners in Asia and Europe get easy access to stable supply without sending their own ships into tight waterways. The high demand for these spot tender offerings shows that global refineries need extra oil. The UAE plans to use its new production capacity to gain more market share in the coming months. Traders expect even higher export numbers as new loading facilities come online near Fujairah.
