Adnoc World Buying and selling (AGT) is bringing a cargo of Iraq’s Basrah Heavy crude (24° API, 4% Sulfur) to its 417,000 b/d Ruwais West refinery in Abu Dhabi. A market supply confirms the 1mn barrel commerce, which is able to mark the primary supply of third-party crude to the refinery since a cargo of Basrah Heavy was delivered in Could (MEES, 28 June).
The supply of non-system heavy crudes was enabled by the completion of the Crude Flexibility Program (CFP) upgrades to Ruwais West in late-2023. Up to now, the upgrades have primarily enabled Adnoc to modify out its mild Murban crude (40°API, 0.7% Sulfur) for heavier and sourer home grade Higher Zakum (34° API, 1.75% Sulfur). Nevertheless, Adnoc now has the pliability to buy non-system crude feedstock on the spot market if pricing arbitrages open, and maximize gross exports of its home volumes. (CONTINUED – 135 WORDS)
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