Adnoc Prices Fujairah Offshore Crude at Up to $1 Premium to Dubai

1 articles · Updated · Bloomberg · Jul 13

Adnoc will price August offshore crude collected via ship-to-ship transfer at Fujairah against the Dubai benchmark, creating a sales route outside the Strait of Hormuz.
Upper Zakum and Das will be sold at an 80-cent-a-barrel premium to Dubai, while Umm Lulu will carry a $1-a-barrel premium, according to a price sheet seen by Bloomberg.
Those grades still originate inside the Persian Gulf, but the Fujairah collection option supports non-Hormuz loading alternatives rather than replacing existing supply points.
The company is still offering the same crudes from their usual sites, making the pricing tweak an added export option rather than a shift in core production.