AdNOC sells crude oil spot shipments

ADNOC has offered crude oil shipments for sale in the spot market to be delivered between August and October, marking the seventh tender by the company since June despite escalating fighting and shipping disruptions in the Middle East. ADNOC confirmed that any bids from buyers with discounted prices will be rejected. The deadline for submitting offers is July 27, and the offers remain valid until at least the 29th of the month. Buyers can load the shipments from ports within the Gulf or through transfer operations off the shores of Fujairah or Malaysia, with continued reliance on a fleet of tankers for oil delivery, despite increasing risks of attacks on Emirati tankers in the Strait of Hormuz.

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