What was the total volume of crude oil sold by ADNOC through its seven tenders since June, and how does that compare to its pre-conflict export volumes?

The latest awards brought ADNOC's total crude sales through the seven tenders to more than 86 million barrels. Prior to the war, the UAE exported 103 million and 95 million barrels of crude for January and February respectively, according to Kpler data.

Which Asian refiners and trading firms purchased ADNOC crude in the seventh tender, and at what premiums to Dubai quotes?

Indian Oil Corp (IOC.NS) purchased 2 million barrels of Upper Zakum crude for end-August loading at flat or a premium of $1 to August Dubai quotes on a delivered basis; Chinese majors — Sinopec’s trading arm Unipec, PetroChina and Sinochem — bought 2 million barrels of Upper Zakum each at premiums of around $3 to $4 a barrel to September Dubai quotes; Japanese refiner Idemitsu Kosan bought 2 million barrels of Das crude at a premium of around $1 a barrel to September Dubai quotes on a free-on-board basis.

ADNOC Sells Crude at Premiums to Asian Refiners in Seventh Tender

Jul 29, 2026

ADNOC sold over 12 million barrels of spot crude to Asian refiners at premiums following supply disruptions from U.S.-Iran hostilities. Major buyers included Indian Oil and Chinese majors, marking the seventh tender since June amid tightening global supplies.

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ADNOC Sells Crude at Premiums to Asian Refiners in Seventh Tender

ADNOC Sells Crude at Premiums to Asian Refiners in Seventh Tender

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