UAE Boosts Imports of Iraqi Crude After Oil Refinery Upgrade
- Tankers bring in Basrah Heavy and rare cargo of Saudi fuel oil
- Adnoc’s purchases allow firm to export more of its own crudes
Abu Dhabi National Oil Co.’s upgrade of its Ruwais refinery frees up more of its own high-value crudes for sale.
Photographer: Christopher Pike/BloombergThis article is for subscribers only.
The United Arab Emirates is buying more oil from energy-rich neighbors after a refinery upgrade allowed the country to process a wider variety of barrels.
Abu Dhabi National Oil Co. purchased a second cargo of Iraqi crude in May after receiving a first consignment in April, according to ship-tracking data compiled by Bloomberg.