ADNOC expanded its trading operations by signing an agreement for the supply of crude oil and receiving production from one of the plants in Al-Fujairah. According to information, ADNOC processed part of the crude oil at this plant, part of which belongs to the Montfort trading group. Currently, the company is working on expanding the agreement to include a larger number of parties.
This expansion is part of the strategy to enhance trading operations of oil companies in the Middle East to achieve greater profitability, similarly to global players in the oil sector, such as Shell and BP. The aim of this agreement is for ADNOC to have the opportunity to process imported crude oil at the plant in Al-Fujairah and realize it as low-sulfur marine fuel and other products.
According to information from sources, the company Bloomberg.
