ADNOC Manages Offshore Output Amid Strait of Hormuz Disruption
ADNOC is actively managing its offshore oil output levels to meet storage requirements amid the ongoing US-Israeli war on Iran. The company has activated protocols and is working closely with authorities to protect its people, assets, and operations.
The Strait of Hormuz, a crucial waterway responsible for 20% of global oil supply, has been blocked by the conflict. Analysts had predicted that the UAE and Saudi Arabia would soon have to cut output as their oil storage fills up.
ADNOC is using export capacity that bypasses the strait, including the Abu Dhabi Crude Oil Pipeline (also known as the Habshan-Fujairah Pipeline), which transports 1.5-1.8 million barrels per day of oil from Abu Dhabi's fields directly to the port of Fujairah on the Gulf of Oman.
The company stated that its operations are continuing, and it is using international storage facilities to ensure supply continuity to global markets. Business units are assessing the situation product-by-product and transaction-by-transaction basis, considering the ongoing disruption affecting shipping through the Strait of Hormuz.