Abu Dhabi tells buyers to load oil shipments from inside Hormuz
If buyers can’t secure their own tankers, Adnoc said it would be able to assist with its own or affiliated vessels. (Adnoc pic)
ABU DHABI: Abu Dhabi National Oil Co. has told its customers to resume loading its crude oil from ports within the Persian Gulf, the company said in a notice sent to customers seen by Bloomberg and corroborated by multiple term lifters.
The UAE state-owned producer said oil from its ports at Das and Zirku islands, which are located inside the Persian Gulf, has been available for loading since April 27. Failure to pick up the crude would constitute a breach of buyers’ lifting obligations, it added.
In light of the recent US-Iran deal and “the envisaged uninterrupted flow of traffic through the Strait of Hormuz, we expect that all cargoes will be lifted in accordance with the published loading programmes”, it said in its notice to long-term buyers.
If buyers can’t secure their own tankers, Adnoc would be able to assist with its own or affiliated vessels. The company also cited its general terms and conditions for the sale of crude oil, which states that a buyer shall pay a compensation to the seller in the event of a failure to take delivery.
Adnoc didn’t immediately respond to an email and call for comment outside regular business hours.
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