ADNOC Issues Seventh Crude Tender Since June Despite Strait of Hormuz and Red Sea Risks
Abu Dhabi National Oil Company (ADNOC) has issued its seventh crude oil tender since early June, offering millions of barrels for loading between August and October from UAE ports including Zirku, Das Island, and Fujairah, as well as via ship-to-ship transfers offshore Fujairah or Malaysia. The tender proceeds despite renewed threats to supply from the Strait of Hormuz and new shipping risks in the Red Sea from Iran-aligned Houthis in Yemen. ADNOC has sold over 74 million barrels in previous tenders since June, utilizing shuttle services and dark-mode tanker operations to bypass the Strait of Hormuz blockade. The UAE's crude production surged to a record 4.1 million barrels per day in June after leaving OPEC effective May 1, up from 3.3 million bpd in May. ADNOC will automatically reject discounted bids in this tender.
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