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Abu Dhabi keeps August term crude sales steady to Asia

July 2, 2012 10:10 by Reuters

Abu Dhabi National Oil Co (ADNOC), the main exporter for OPEC member the United Arab Emirates, will supply full contractual crude oil volumes to Asia in August, steady with July, industry sources said on Monday.

ADNOC has notified Asian buyers it will supply its four main grades – Murban, Lower Zakum, Umm Shaif and Upper Zakum – at contractual volumes next month, the sources said.

The state-run firm did not immediately reveal whether it would give buyers the option of asking for all grades’ cargoes to be 5 percent more or less than contracted volumes for August.

Last month, ADNOC granted the so-called tolerance to all four grades for July loading, the sources said.

(Reporting by Osamu Tsukimori;Editing by Clarence Fernandez)

Tags: Abu Dhabi, Adnoc, crude, supply, UAE

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