UAE buys US oil cargo to replace Qatari condensate: report

The Abu Dhabi National Oil Company (ADNOC) will import its first oil cargo from the United States, due to arrive in September, as a substitute for the monthly 1-1.5 million barrels of condensate previously imported from Qatar, Reuters reported, citing sources familiar with the matter.

The oil company purchased a US Eagle Ford condensate cargo in a tender, it was reported.

ADNOC has stopped importing condensate from Qatar, the world’s largest producer and exporter of liquefied natural gas (LNG), amid the ongoing diplomatic crisis in the Gulf.

The UAE, along with Saudi Arabia, Bahrain, and Egypt, snapped diplomatic ties with Qatar last month, accusing the Gulf state of supporting terrorism.

The Dolphin pipeline, however, remains operational with natural gas still flowing from Qatar to the UAE, according to reports.

ADNOC initially bought Khuff condensate from Saudi Arabia to replace Qatari supplies, but production volumes of this oil proved to be insufficient, the sources said.