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Adnoc Could Cut Upper Zakum to Buyers for Supply to Ruwais Refinery

OIL

Abu Dhabi National Oil Co. plans to retain more supplies of Upper Zakum crude for domestic use in the Ruwais refinery. Adnoc is considering supplying less to buyers under long-term contracts starting in 2024 according to Bloomberg sources.

  • Customers will be offered other crudes like the more-valuable Murban or Das with the change potentially freeing up Murban crude for sale.
  • An upgrade at the 922kbpd Ruwais refinery on the Persian Gulf will enable the processing of heavier and typically cheaper types of crudes. The refinery was originally built to use the Murban crude feedstock which has production of more than 2mbpd. Abu Dhabi aims to make its oil a regional benchmark.
Energy BulletsCommodities
Energy BulletsCommodities

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