Abu Dhabi to keep Dec term crude sales steady -sources
Thursday, 01 November 2012
TOKYO: Abu Dhabi National Oil Co (ADNOC), the main exporter for OPEC member the United Arab Emirates, will supply full contractual crude oil volumes to Asia in December, steady from November, industry sources said on Thursday.
ADNOC has notified Asian buyers it will supply its four main grades - Murban, Lower Zakum, Umm Shaif and Upper Zakum - at contractual volumes in December, the sources said.
The state-run firm has not yet said whether it would give buyers the option of asking for all grades' cargoes to be 5 percent more or less than contracted volumes for December loading, they added.
ADNOC did not grant the so-called "plus tolerance" option to Murban crude for November loading, capping the maximum volumes that the buyers can take to the contractual volumes, sources said. But it afforded the normal tolerance for other three grades. (Reuters)