Abu Dhabi’s state oil firm secures supertankers to safeguard crude exports as regional tensions disrupt Strait of Hormuz traffic.
Abu Dhabi National Oil Company (ADNOC) has purchased five very large crude carriers (VLCCs) for approximately $590 million. The move aims to secure crude delivery routes amid heightened shipping risks in the Strait of Hormuz due to regional conflicts.
The acquisition follows the UAE’s exit from OPEC earlier this year and its plans to increase oil production and exports. Vessel supply has tightened as geopolitical tensions stall traffic through the critical chokepoint, prompting energy firms to bolster fleet capacity.
No immediate market reaction was reported, but the purchase signals ADNOC’s efforts to mitigate supply chain disruptions and maintain export reliability.