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UAE Oil Exports Boosted as Fujairah Resumes Loading After Floods - BLOOMBERG

AUGUST 18, 2022

(Bloomberg) -- Crude oil and condensate exports from the UAE are set to gain traction as shipments from Fujairah’s off-shore export terminals resume after a hiatus of more than two weeks caused by heavy rains and flooding.

The supertanker Kashimasan loaded from Das Island, then also at the single-point mooring facility off the coast of Fujairah on Aug. 16 before sailing toward Cochin, India. The VLCC was the first tanker to arrive at Fujairah since Abu Dhabi National Oil Co., the state energy firm, suspended loading operations from the terminal late last month.

Oil shipments shrank marginally in August as Abu Dhabi diverted its Murban crude exports to the Jebel Dhanna terminals in the Persian Gulf. Emirati exports were about 3.57 million barrels a day in the first 16 days of August, according to tanker-tracking data monitored by Bloomberg. That was a modest drop from a revised 3.72 million barrels a day in July, when monthly volumes rose to the highest in more than five years.

Operations are returning to normal, Port of Fujairah Managing Director Mousa Murad said Tuesday. While the port has been relatively unscathed by flooding, the associated oil terminals experienced a more severe impact. All of the loading points are functional now but some operators are still taking measures to protect their electrical components, Murad said.


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