Abu Dhabi keeps crude supply to Asia but omits plus option
Abu Dhabi National Oil Co (ADNOC) will supply full contractual supplies of four main crude grades to Asia in October, but is not giving its customers a so-called "plus tolerance" option, traders said on Thursday.
August 30, 2012 10:42 by Reuters
Abu Dhabi National Oil Co (ADNOC) will supply full contractual supplies of four main crude grades to Asia in October, but is not giving its customers a so-called “plus tolerance” option, traders said on Thursday.
ADNOC has notified Asian buyers it will supply its four main grades – Murban, Lower Zakum, Umm Shaif and Upper Zakum – at contractual volumes in October, steady from September, the sources said.
The state-run firm has in the past given buyers the option of asking for all grades’ cargoes to be 5 percent more or less than contracted volumes for September.
(Reporting by Osamu Tsukimori; Editing by Michael Watson)
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