Overview

Abu Dhabi National Oil Company (ADNOC) announced a ninth spot tender covering crude oil shipments slated for October and November. The move comes as the United Arab Emirates continues to elevate its oil output and export volumes despite ongoing tensions in the Strait of Hormuz.

Tender Specifications

The latest tender makes available three grades – Upper Zakum, Umm Lulu and Das – sourced from fields located within the Persian Gulf. Buyers can secure cargoes on a free‑on‑board (FOB) basis from Fujairah Storage, Zirku or Das Island, or arrange ship‑to‑ship (STS) transfers in the Fujairah‑Sohar corridor outside the Hormuz bottleneck, according to industry sources.

Cumulative Spot Sales Since June

During the eight prior tenders issued this summer, ADNOC is estimated to have moved more than 100 million barrels of crude to international purchasers. The ninth tender adds to this volume, reflecting the company’s aggressive push to place additional barrels on the global market.

Production and Export Strategy

June saw the UAE achieve a peak output of approximately 4.1 million barrels per day, the highest level ever recorded for the nation. After formally leaving OPEC on May 1, the emirate has adopted several work‑arounds to mitigate the Hormuz blockage:

  • Crude is still routed through the strait but loaded onto larger vessels stationed outside the chokepoint.
  • An on‑shore pipeline is used to transport oil from the western to the eastern side of the country, effectively bypassing Hormuz.
  • Tankers occasionally transit the strait under “dark mode” to reduce detection. These tactics have helped the UAE restore export volumes to pre‑crisis levels as early as June.

Market Implications

The continued issuance of spot tenders signals ADNOC’s intent to capitalize on the heightened production capacity and to maintain a strong presence in the international crude market, even as regional geopolitical risks persist.