Fujairah loaders still await spot market

摘要

Abu Dhabi’s Adnoc mayHormuz begin regular loadings of light bypass pipeline options sour Murban crude at the new Fujairah terminal in November, but there are still no signs of spot sales. At least three 500,000 bl trial cargoes of Murban crude have loaded at Fujairah since Abu Dhabi started up a 1.5mn b/d strait of Hormuz bypass pipelineKUWAIT in July (AGM, 20 July, p4). The first cargo Habshan-Fujairah loaded that month for Pakistan’s 100,000 b/d Pak Arab refinery, in which Abu Dhabi has a 40pc stake. Chevron affiliate GS Caltex, which has a term contract with Adnoc, loaded Murban at Fujairah in July-August to ship to its 750,000 b/d Yeochon refin- ery in South Korea.