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Abu Dhabi to Keep February Term Crude Sales Steady

Source: Reuters 1/4/2013, Location: Middle East

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Abu Dhabi National Oil Co (ADNOC), the main exporter for OPEC member the United Arab Emirates, will supply full contractual crude oil volumes to Asia in February, steady from January, industry sources said.

ADNOC has notified Asian buyers it will supply its four main grades - Murban, Lower Zakum, Umm Shaif and Upper Zakum - at contractual volumes next month, the sources said.

The state-run firm has not yet revealed whether it will give buyers the option of asking for cargoes for all grades to be 5 percent more or less than contracted volumes for February loading, they added.

Last month, ADNOC granted this so-called tolerance on all four grades for January loading.

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