According to trade sources, the UAE energy giant sold cargoes of Das, Upper Zakum, and Umm Lulu crude to refiners and trading firms across India, China, South Korea, and Japan. The sales, completed over the past two weeks, came ahead of the signing of a preliminary agreement aimed at ending hostilities between Washington and Tehran.
The increased activity signals ADNOC's determination to capitalize on renewed confidence in Gulf oil exports after weeks of uncertainty surrounding regional security and shipping routes.
Strong Demand From Asian Refiners
Asian buyers accounted for the bulk of the purchases, with Indian state-owned refiners emerging among the largest customers.
Sources said Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited (BPCL) acquired a combined 6 million barrels of Abu Dhabi crude during the month. The cargoes were reportedly sold at parity or premiums ranging from $1 to $2 per barrel above Dubai benchmark prices on a delivered basis through ship-to-ship transfers at Fujairah.
Japan also featured prominently in ADNOC's sales programme. The company sold 3 million barrels of Das crude to Eneos, Japan's largest refiner, while South Korea's GS Energy secured an additional 1 million barrels.
Chinese buyers were particularly active in the Upper Zakum market. Unipec, the trading arm of Sinopec, purchased between 6 million and 8 million barrels, according to traders familiar with the deals. Global commodities trader Vitol acquired 4 million barrels, while Rongsheng Petrochemical bought another 2 million barrels.
Meanwhile, South Korea's largest refiner, SK Energy, purchased 7 million barrels of Umm Lulu crude. Traders noted that some of these cargoes were sold at premiums, reflecting healthy demand despite lingering concerns about regional security.
The companies involved typically do not comment publicly on commercial transactions.
Strategic Export Routes Through Hormuz
The Das, Upper Zakum, and Umm Lulu grades are produced from offshore fields in the Arabian Gulf and are exported through the strategically important Strait of Hormuz, one of the world's busiest energy shipping corridors.
To accommodate buyers' preferences and maintain flexibility, ADNOC offered cargoes on a free-on-board basis from storage facilities in Fujairah and export terminals at Zirku and Das Island. Buyers were also given the option of receiving shipments through ship-to-ship transfers conducted off the coasts of the UAE, Oman, and Malaysia, as well as cost-and-freight delivery arrangements.
Ceasefire Boosts Market Confidence
The surge in spot sales comes as concerns over potential disruptions to Gulf oil supplies begin to ease following the U.S.-Iran ceasefire initiative.
During the period of heightened tensions, ADNOC reportedly adopted additional security measures to protect its export operations. Trade sources said that since the conflict began, the company had continued exporting crude oil and petroleum products by conducting ship-to-ship transfers and, in some cases, switching off vessel transponders to reduce exposure to potential threats.
While ADNOC has not publicly commented on the reported sales, the latest transactions highlight the resilience of UAE oil exports and the strong appetite among Asian refiners seeking reliable crude supplies as geopolitical risks in the region gradually subside.
The substantial volume of sales also underscores ADNOC's ability to quickly respond to market opportunities, strengthening its position as a key supplier to Asia's largest energy-consuming economies.: