ADNOC Trading Buys 11 Oil Tankers

Adnoc Logistics and Services Company has invested 4.8 billion dirhams (approximately $1.3 billion) to acquire 11 giant oil and gas tankers, including 6 crude oil tankers and 3 gas tankers from the previous owners, with delivery expected during the third quarter of 2026, and two tankers currently under construction scheduled for delivery in the fourth quarter of 2026. This investment aims to expand the company's fleet to support increased Adnoc exports, enhance its ability to serve international markets, and transition to greater operational and financial flexibility, contributing to tangible returns and long-term sustainability.

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