Adnoc to increase gas condensate imports

18 April 2018
Emirate seeking to boost gas condensate imports by 2.5 million barrels per month in third quarter

The Abu Dhabi National Oil Company (Adnoc) has invited major suppliers to bid for a contract to export 2.5 million barrels per month of gas condensate to the emirate during the third quarter of this year.

Offers have to be submitted by 20 April, and will remain valid until 30 April, according to Reuters.

Adnoc is seeking a variety of grades of condensate, a type of ultra-light crude oil produced from natural gas fields, from Africa, Europe, the Asia-Pacific region and the United States, to be delivered between July and September.

The maximum volume for each cargo is 1 million barrels and offers have to be priced against the average of the Platts Dubai quotes in the same month of delivery, according to Reuters.

Adnoc’s Ruwais refinery complex will receive at least one cargo of US oil each month between February and May through existing agreements, although there was no delivery in April, as per shipping data on Thomson Reuters Eikon.

The latest shipment is aboard oil tanker 'Astra' which loaded about 740,000 barrels of condensate and nearly 200,000 barrels of crude in two separate liftings from Corpus Christi in Texas at the end of March and early April, the data showed.

The tanker is expected to arrive in Ruwais on May 8.

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