MOSCOW (MRC) -- Abu Dhabi National Oil
Company has offered Murban crude to be loaded in April from its oil storage in
South Korea in a rare move, said Reuters.
offer was made to a pool of selected buyers in Asia and ADNOC did not specify
how much volume it plans to sell, they said.
ADNOC has 6 million barrels
of Murban crude stored in oil tanks in Yeosu, South Korea, one of the sources
ADNOC is still in talks with Chinese companies for the remaining 12
percent stake in Abu Dhabi's ADCO onshore oil concession.
offers from Yeosu tanks have weighed on Murban's April spot premiums which have
fallen to below 10 cents a barrel, one of the sources said.
and oil major BP previously sold April-loading Murban at about 10 cents a barrel
above the grade's official selling price (OSP), traders said.
petrochemicals are produced by Abu Dhabi Polymers Co (Borouge), which makes
polyolefin, and Ruwais Fertilizer Industries (Fertil), which produces urea and