ADNOC Unfazed by Tensions, Issues Seventh Crude Oil Tender Since June

Abu Dhabi National Oil Company (ADNOC) has issued its seventh crude oil tender since June, despite escalating geopolitical tensions and security concerns in the Middle East. The tender offers cargoes for loading between August and October, with a closing date of July 27.

Market participants said ADNOC has stipulated that any bids submitted below the official pricing differential will be automatically rejected, underscoring the producer's confidence in continued strong demand for its crude despite heightened regional uncertainty.

The tender allows successful buyers to lift crude cargoes from UAE export terminals, including Zirku Island and Das Island within the Arabian Gulf, or through ship-to-ship (STS) transfers conducted offshore Fujairah or Malaysia.