Tuesday, July 16, 2024

UAE ADNOC plans to deliver all crude quantities to Asian buyers in February


DUBAI – Abu Dhabi National Oil Company (ADNOC) will supply all types of crude oil to customers for the third month in February on the basis of fixed-term contracts in Asia, two well-known sources said on Tuesday. Sequence..

According to Reuters, this took place within the framework of the Organization of the Petroleum Exporting Countries (OPEC + Group) between the Organization of the Petroleum Exporting Countries and its allies on Thursday to discuss production policy for 2022.

The Emirati manufacturer will resume full delivery to Asia from December shipments after OPEC + agreed to increase production to 400,000 barrels per month from August..

ADNOC exports the largest proportion of its crude oil to Asia, and its grades include Marban, Ummu Lulu, Das and Upper Sakum..

Profits are said to have increased Abu Dhabi National Oil Company for Distribution “ADNOC”27 percent by the end of the first half of 2021.

In a report to the Abu Dhabi Stock Exchange in August 2021, the company said its profit was 1.15 billion dirhams, compared to 910.3 million dirhams in the same period of 2020..

The company attributed the increase in profit to a 17 percent increase in revenue compared to the same period last year; The result is an increase in selling prices and an increase in the amount of fuel.


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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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