SUBSCRIBE
PROFILE

ADNOC acquires 2 additional Very Large Tankers

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

ADNOC becomes the owner-operator of the largest maritime fleet in the United Arab Emirates.
It now has eight very large tankers (VLCCs) at its disposal, following the acquisition of two additional vessels.
The national company will be able to increase its crude oil production capacity as planned.

ADNOC L&S continues to expand its fleet

ADNOC Logistics & Services (ADNOC L&S), continues to expand its fleet with the acquisition of two additional Very Large Crude Carriers (VLCC).
This brings its total number of VLCCs to eight.
The new acquisitions include a new-build VLCC featuring dual-fuel technology.
Manufactured by South Korea’s Daewoo, it is scheduled for delivery in the first quarter of 2023.
These latest acquisitions mean that ADNOC L&S has now added a total crude oil cargo capacity of 16 million barrels this year.

Increase crude oil production by 25%.

ADNOC will thus be able to increase its crude oil production capacity by 25% to 5 million barrels per day by 2030.
A crucial development in support of the Emirati ICE Murban Future oil contract.
This extension should help the Group to win new customers and markets.
The launch of Murban Futures contracts will also enable ADNOC L&S to perfect the use of its vessels’ capacity in the crude oil sector.
ADNOC L&S is the largest integrated marine logistics and shipping company in the Gulf Cooperation Council (GCC).
It owns and operates the largest shipping fleet in the United Arab Emirates.
With over 240 owned and chartered vessels.

  • Popular on energynews.pro
Over 80 countries push for roadmap on fossil fuel phase-out at COP30
TRISO-X begins vertical construction on advanced nuclear fuel facility in Tennessee
CGN activates Zhaoyuan to bypass US restrictions and secure its Hualong One reactors
Berlin approves strategic minority stake in TenneT Germany
Sinopec to invest $437 million in hydrotreatment unit in Algeria
Lukoil shuts down 430 petrol stations in Finland under US sanctions pressure
Finnish fuel distributor Teboil, owned by Russian group Lukoil, will gradually cease operations as fuel stocks run out, following economic sanctions imposed by the United States.
Exxon to close its ethylene plant in Scotland amid market pressures
ExxonMobil will shut down its Fife chemical site in February 2026, citing high costs, weak demand and a UK regulatory environment unfavourable to industrial investment.
Orlen acquires 7.6% of Ekofisk project as DNO reallocates assets
Polish state-owned group Orlen strengthens its North Sea presence by acquiring DNO’s stake in Ekofisk, while the Norwegian company shifts focus to fast-return projects.
Syria signs strategic oil deal with ConocoPhillips and Nova Terra Energy
The Syrian Petroleum Company has signed a memorandum of understanding with ConocoPhillips and Nova Terra Energy to develop gas fields and boost exploration amid ongoing energy shortages.
Schneider Electric establishes new North American headquarters at Boston’s Winthrop Center
The French energy group triples its office space in Boston with a new headquarters featuring a customer experience centre and integrated smart technologies. Opening is scheduled for mid-2026.
Shell extends exchange premium after collecting $6.2bn in notes
Shell extends its early participation premium to all eligible holders after collecting over $6.2bn in validly tendered notes as part of its financial restructuring operation.
Fincraft offers revised C$1.75 per share bid to acquire Tethys Petroleum
Fincraft Group LLP, a major shareholder of Tethys Petroleum, submitted a non-binding proposal to acquire all remaining shares, offering a 106% premium over the September trading price.
Krista Tanner appointed CEO of ITC Holdings to succeed Linda Apsey in 2026
After 23 years at ITC Holdings Corp., Chief Executive Officer Linda Apsey will retire in March 2026. She will be replaced by Krista Tanner, current President of the company, who will also join the Board of Directors.
ReGen III secures $3.975mn in sub-agreements under debenture exchange
ReGen III confirmed receipt of $3.975mn in sub-agreements tied to its convertible debenture exchange programme, involving over 97% of participating holders.
Enkraft increases pressure on ABO Energy amid contested sale process
Activist fund Enkraft demands governance guarantees as ABO Energy’s founding families prepare a change of control, under an open market listing and KGaA structure that offers limited protection to minority shareholders.
China increases crude oil stockpiles in October as prices stabilise
As global oil prices slowed, China raised its crude stockpiles in October, taking advantage of a growing gap between imports, domestic production and refinery processing.
Kuwait Petroleum Corporation secures record KWD1.5bn loan to support expansion strategy
Kuwait Petroleum Corporation has signed a syndicated financing agreement worth KWD1.5bn ($4.89bn), marking the largest ever local-currency deal arranged by Kuwaiti banks.
CNPC launches power subsidiary to accelerate its energy strategy
China National Petroleum Corp has inaugurated a new electricity-focused entity in Beijing, marking a strategic step in the organisation of its new energy assets.
Kretinsky takes stake in TotalEnergies through €5.1bn asset swap
Czech billionaire Daniel Kretinsky expands further into energy with a strategic investment in TotalEnergies, via his holding EPH, in exchange for assets valued at €5.1bn.
TotalEnergies and Rubis fined €187.5mn for cartel in Corsica
France’s competition authority fines TotalEnergies, Rubis and EG Retail over a cartel restricting access to Corsican oil depots, affecting the local fuel distribution market.
Benin receives offshore unit to relaunch the Sèmè oil field
The Beninese government has confirmed the availability of a mobile offshore production unit, marking an operational milestone toward resuming activity at the Sèmè oil field, dormant for more than two decades.
Baghdad seeks to preserve oil production despite sanctions targeting Lukoil
The Iraqi Prime Minister met with the founder of Lukoil to secure continued operations at the giant West Qurna-2 oil field, in response to recent US-imposed sanctions.
EDF and OpCore launch €4 billion data centre campus near Paris
EDF and OpCore are converting a former thermal power plant south-east of Paris into one of Europe’s largest data centre campuses, backed by a €4 billion ($4.31bn) investment and scheduled to begin service in 2027.
Pertamina increases imports to meet gasoline demand
The sustained rise in consumption of high-octane gasoline pushes Pertamina to supplement domestic supply with new imported cargoes to stabilise stock levels.
CRR acquires 53 km of oilfield road infrastructure from Islander in Alberta
Canadian group CRR acquires a strategic 53-kilometre road network north of Slave Lake from Islander Oil & Gas to support oil development in the Clearwater region.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.