ADNOC Buys Five Supertankers Amid Middle East Crisis
Abu Dhabi's national oil company ADNOC has made a significant move to manage its crude deliveries, buying five supertankers worth around $590 million amid the tightened vessel supply due to the Middle East crisis. The Very Large Crude Carriers (VLCCs) can carry up to 2 million barrels of crude oil each and were acquired from Frontline Plc by ADNOC Logistics and Services.
The move comes as the UAE seeks to boost its crude oil production and exports after exiting OPEC earlier this year. In June, the UAE produced a record 4.1 million barrels per day (bpd) of crude oil, nearly double the output from March 2026 when Middle Eastern producers slashed production.
The acquisition is part of ADNOC's efforts to adapt to the closure of the Strait of Hormuz by sneaking tankers in dark mode through the Strait and offering to sell its crude grades for loading offshore Fujairah and at Sohar in Oman, outside the Strait. The company also plans to boost its LNG carrier fleet to grow its international gas business.