Abu Dhabi National Oil Company has notified some customers that they could load two crude grades outside of the Gulf next month as the Strait of Hormuz remained closed, according to two people with knowledge of the matter and a notice reviewed by Reuters.
The two crude grades are Das and Upper Zakum that ADNOC will move from the Das Island and Zirku Island terminals located inside the Gulf to locations outside for loading. Exports from these terminals have fallen drastically as it has been hard to find ships willing to transit the strait since the start of the US-Iran war in late February.
“To ensure that customers can continue to perform their contractual liftings, we are also making cargoes available for loading outside of the Arabian Gulf, on a case-by-case basis,” ADNOC said in a note to clients.
The note did not say how ADNOC planned to move the cargoes.
The producer said clients could reach ADNOC staff to confirm their plans to lift term cargoes by using the alternative delivery points.
ADNOC did not immediately respond to a request for comment.
It did not state the alternative delivery points in the notice although the sources said they included ship-to-ship transfers off Fujairah in the United Arab Emirates or off Sohar in Oman.
The producer also did not state if there will be additional costs incurred in such transfers and whether these will be borne by ADNOC or the buyer, the sources added.