ADNOC Reports 15 Vessel Attacks as Hormuz Risks Mount
Abu Dhabi National Oil Company said attacks on its vessels and employees are having a significant impact on operations as the company tries to keep crude, gas and refined products moving through the Strait of Hormuz.
Fifteen ADNOC vessels have been hit by missiles or drones since the war began, including three this week, the company said Friday. One crew member has been killed and 20 others injured.
The Strait of Hormuz carried roughly one-fifth of global oil consumption before the U.S.-Israeli war against Iran expanded into a broader regional conflict. Repeated attacks on commercial vessels have disrupted traffic through the waterway, driven freight costs sharply higher, and made some shipowners reluctant to enter the Persian Gulf.
ADNOC said it is working with authorities to protect personnel and assets while meeting customer requirements “as much as possible” in what it called an exceptionally challenging operating environment.
The attacks are hitting one of the few Gulf producers that has managed to restore exports close to pre-war levels. The UAE has relied on crude loading points outside Hormuz, including Fujairah, while continuing to move some barrels through the strait despite the security risk.
ADNOC is expanding its own shipping capacity even as those risks increase. Its logistics arm announced Friday that it had acquired six very large crude carriers and five very large gas carriers for about $1.3 billion.
Nine of those vessels are scheduled to enter service this quarter, with two newbuild gas carriers due in the fourth quarter. ADNOC Logistics & Services already owns more than 340 vessels and operates another 600 chartered ships.
The fleet additions are intended to support higher crude and LNG exports as ADNOC expands production and trading volumes. The company also ordered four new LNG carriers last month in a $900 million deal.
“Freedom of navigation and the safe, uninterrupted passage of commercial shipping through international waterways must be respected and protected,” ADNOC said Friday.
By Julianne Geiger for Oilprice.com
ADNOC Buys 11 Supertankers for $1.3 Billion to Expand Export Fleet
ADNOC has bought 11 very large crude and gas carriers for $1.3 billion as the national oil company of Abu Dhabi continues to expand its fleet of supertankers to boost crude and LNG exports.
ADNOC’s unit ADNOC Logistics & Services plc on Friday announced it had acquired five modern Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs) for a combined investment of about $1.3 billion.
Nine of the vessels, six VLCCs and three VLGCs, were acquired on the secondary market. They are scheduled for delivery this quarter and will enter service with ADNOC immediately following delivery.
The remaining two VLGCs are newbuild vessels acquired through a resale transaction from a Chinese shipyard, with delivery scheduled for the fourth quarter of 2026.
The fleet expansion will support ADNOC L&S’ gas and crude oil shipping capacity and support ADNOC Group’s integrated value chain and continued growth in production, trading and export volumes, the company said in a statement.
The latest acquisition follows ADNOC’s order for newbuild LNG carriers from last month.
ADNOC L&S currently owns over 340 vessels and operates 600 chartered ships.
The UAE has sought to adapt to the closure of the Strait of Hormuz by sneaking tankers in dark mode through the Strait and increasingly offering to sell many of its crude grades for loading offshore Fujairah and at Sohar in Oman, outside the Strait.
The United Arab Emirates has managed to boost its oil exports to pre-crisis levels as early as June, as it has kept pushing crude through the Strait of Hormuz and outside it.
ADNOC is also boosting its LNG carrier fleet to grow its international gas business.
Last month, ADNOC Logistics and Services placed a $900-million order for four newbuild LNG carriers to expand its fleet as Abu Dhabi’s national oil company seeks to boost gas exports to capitalize on the global rise in LNG demand.
By Michael Kern for Oilprice.com
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