ADNOC restores most Murban oil supply to equity holders in July, sources say
Partners in Murban crude producer ADNOC Onshore, which include BP (BP.L), opens new tab, TotalEnergies (TTEF.PA), opens new tab, China National Petroleum Corp, Inpex (1605.T), opens new tab, Zhenhua Oil and South Korea's GS Energy, are entitled to about 40% of production of the grade that stands at around 2.1 million barrels per day, traders said.
During the Israel-Iran conflict last month, ADNOC notified equity holders that it would cut their Murban crude supply by 3 million to 4 million barrels in July, the sources said.
It was not immediately clear what led to the changes.
Most of these volumes have since been restored, they said.
A spokesperson for ADNOC said there had been no cuts to supplies to long-term customers such as refiners.
"ADNOC has maintained uninterrupted supply to our customers, with no cessation of Murban sales contracts or nominations in June and July," he added in an email.
Japan, Thailand and India are the biggest importers of Murban crude, Kpler data showed.
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