UAE selling Saudi oil from supertanker attacked in Gulf
USO•The UAE offered 1.87 million barrels of Saudi Arab Light crude from the attacked Gem No. 2 supertanker, for loading via ship-to-ship transfer between November 10 and 20.
1. Oil tender offered
The UAE offered Saudi Arab Light crude from the Gem No. 2, a supertanker struck by an unidentified projectile last month. The UAE energy ministry’s tender offered the oil for ship-to-ship loading between November 10 and 20 and closed on Monday.
2. Cargo and authorization
The quantity offered was revised from 1.7 million barrels to 1.87 million, a tender document showed. A trade source said Saudi Aramco had authorized the UAE to sell the oil on its behalf. The UAE stopped the leak in late October and continued cleanup operations along its coast.
3. Shipping risks
Attacks on commercial vessels in the Gulf have raised security risks and costs for oil exporters and heightened fears over environmental fallout. Trade sources said both the UAE and Saudi Arabia have offered incentives, including freight discounts, to attract buyers.
