The Abu Dhabi National Oil Company (ADNOC) has launched a new crude oil tender, offering buyers cargoes that can be loaded both inside and outside the Strait of Hormuz, according to trade sources.
The move marks ADNOC’s fourth tender this month as the United Arab Emirates energy giant tests market demand and flexibility in shipping arrangements amid shifting regional conditions.
The company is offering Upper Zakum, Umm Lulu and Das crude grades for loading between June and August, with buyers able to bid for up to 2 million barrels, sources said.
According to tender documents, cargoes may be lifted on a free-on-board basis from Zirku and Das Island facilities located inside the Strait of Hormuz. Alternative loading options include Fujairah storage outside the strait, as well as ship-to-ship transfers via Fujairah, Sohar, and locations around Malaysia.
Buyers may also opt for delivered cargo arrangements, depending on mutual agreement.
Trade sources said the structure of the tender is similar to previous offerings issued by ADNOC, reflecting continued flexibility in its sales strategy.
The Strait of Hormuz, a key global energy shipping route, has seen heightened attention following recent regional tensions, though improved diplomatic developments have raised expectations of more stable trade conditions.
Pricing for the cargoes will be linked to official selling prices, the Dubai benchmark, or other reference grades, with the tender set to close on June 23.
In recent weeks, ADNOC has reportedly sold tens of millions of barrels of crude for summer loading, driven by strong demand from Asian refiners and trading houses adjusting to evolving market conditions.
The company has not publicly commented on the latest tender.
