ABU DHABI: Abu Dhabi National Oil Company (ADNOC) will blend its Lower Zakum and Umm Shaif oils into a new export crude called Das by July 2014, the state oil company said on Tuesday.
Oil market trade sources said in June that ADNOC was planning to offer the Das blend from early 2014.
The two similar quality crude streams are currently exported separately from the same terminal on Das Island in the Gulf by Abu Dhabi Marine Operating Company (ADMA-OPCO).
It is not clear how the Das Island blend crude will be priced.
The UAE typically sells Lower Zakum at a premium to Umm Shaif, while the benchmark Murban crude is usually sold at a premium to both.
Oil from Lower Zakum has an API gravity of 40.5 degrees and a sulphur content of 1.04 percent, Umm Shaif crude has a similar weight of 36.9 degrees and 1.44 percent sulphur.
The Das crude blend will have an API of around 39.2 degrees and a sulphur content of 1.3 percent. (Reuters)
