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ADNOC acquires 2 additional Very Large Tankers

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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.

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