Adnoc to import US condensate to replace Qatari cargo

27 July 2017

Qatari-flagged vessels cannot bunker at UAE ports following blockade

Abu Dhabi National Oil Company will import its first condensate shipment from the US, as it looks for substitutes to replace Qatari cargo.

In June, the UAE along with Saudi Arabia, Bahrain and Egypt imposed a land, sea and air blockade on Doha accusing the state of sponsoring terrorism - a charge denied by Qatar.

Qatari-flagged vessels can no longer bunker at the UAE’s Jebel Ali and Fujairah ports following the diplomatic blockade.

A spokesman for Adnoc confirmed to MEED the substitution of Qatari condensate but declined to comment on new contractual arrangements the company was considering.

According to reports, Adnoc is in talks to secure up to two million barrels of US Eagle Ford condensate, which is set to arrive in the UAE in September.

Earlier in July, a vessel carrying a million barrels of Qatari condensate bound for Adnoc’s Ruwais refinery was diverted. Adnoc said the incoming cargo would be “handled” and was the last of the shipments to be received under an expiring year-long contract with Qatar.

In 2014, Adnoc entered into a contract with Qatar International Petroleum Marketing Company (Tasweeq) for sale and purchase of condensate sourced from the North Field in Qatar to be used as splitter refinery feedstock in Abu Dhabi.

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