UAE ups Iraqi oil purchases to feed upgraded refinery
2024-06-12T13:07:54+00:00
Shafaq News/ The United Arab Emirates (UAE) has increased its purchases of Iraqi crude oil in a bid to boost sales of refined oil products, according to sources.
Ship-tracking data shows the Abu Dhabi National Oil Company (ADNOC) imported two Basrah heavy crude cargoes from Iraq in April and May via the tanker "Spiro."
Sources suggest these shipments signal the start of a gradual rise in Iraqi oil purchases by the UAE, diversifying its crude feedstock for the upgraded Ruwais refinery.
ADNOC recently upgraded the Ruwais refinery, enhancing its efficiency and ability to handle heavier, lower-cost crudes. The move aims to boost the output of high-value petroleum products, like gasoline and diesel.
