The shipping and maritime logistics unit of the Abu Dhabi National Oil Company (ADNOC) has acquired two Very Large Crude Carriers (VLCCs), boosting its fleet to eight.
The massive tankers can carry around two million barrels of oil.
The fleet expansion is part of ADNOC’s strategy to tap new customers and markets for the UAE’s Murban crude oil.
It will also help the company achieve its target of increasing crude oil production capacity by 25 percent by 2030.
The first VLCC will join the fleet in the next few months, while the second one will be delivered early next year.
The latest acquisitions bring ADNOC’s crude oil cargo capacity to 16 million barrels.