Murban, Abu Dhabi's flagship crude, continues to cement its status as a key global pricing benchmark, achieving successive successes thanks to its high API gravity and low sulphur content, according to the OilPrice website.
Traded on the Abu Dhabi ICE Futures exchange, the crude offers exceptional levels of transparency, liquidity, and flexibility in global markets.
As part of its ongoing efforts to meet the needs of its strategic partners and keep pace with the dynamics of oil markets, the Abu Dhabi National Oil Company (ADNOC) is taking innovative steps to modernise the official selling prices of its three offshore crude grades — Upper Zakum, Das, and Umm Lulu — by linking them to the Dubai crude index instead of Murban futures contracts for spot shipments loaded two months ahead, while keeping its flagship Murban crude tied to its successful futures contracts.
This strategic move reflects ADNOC's commitment to delivering the best competitive value to its customers, enabling a precise distinction between the unique characteristics of the light, sweet Murban crude and the medium-sour offshore crudes that meet different refinery requirements.
By adopting the Dubai index — widely regarded as the leading global benchmark for medium-sour crude — ADNOC ensures a flexible and fair pricing structure that accurately reflects physical market fundamentals, enhancing the attractiveness and competitiveness of its offshore crudes relative to other regional grades.
Amid the shifting dynamics of global energy markets, the UAE has once again demonstrated its reliability as a key partner for Asian refineries. During periods requiring rapid securing of energy supplies, ADNOC efficiently met the needs of its major Asian partners, providing no fewer than 30 million barrels of its offshore crudes to support market stability. Indian refineries received approximately 6 million barrels, Japan's Eneos received 3 million barrels, while South Korean companies SK Energy and GS Energy secured 8 million barrels.
These substantial deliveries confirm the UAE's capacity for effective and rapid response to the requirements of its strategic customers, consolidating its position as a reliable global energy supplier.