ADNOC spends $1.3B on 11 tankers as UAE crude exports surge

Abu Dhabi National Oil Company's logistics arm has spent $1.3 billion to acquire 11 vessels, nearly doubling its supertanker fleet as the UAE ramps up crude exports following its departure from OPEC amid ongoing tensions in the Strait of Hormuz.

Fleet Expansion

ADNOC Logistics & Services announced on Thursday the acquisition of six Very Large Crude Carriers and five Very Large Gas Carriers for a combined AED 4.8 billion, expanding its VLCC fleet from eight to 14 vessels. Nine of the vessels, acquired on the secondary market, are expected to be delivered during the third quarter of 2026 and will enter service immediately. The remaining two VLGCs are newbuilds secured through a resale agreement with a Chinese shipyard, scheduled for delivery in the fourth quarter of 2026.cbnme+1

Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said the investment "reflects the disciplined execution of our growth strategy and our commitment to building world-class maritime logistics capabilities for the energy sector."cbnme

Strategic Context

The acquisition comes as the UAE has emerged as the most prolific shipper of crude through the contested Strait of Hormuz over the past two months, according to Bloomberg, which reported that ADNOC has used its own vessels and chartered tankers — often under cover of darkness and with military escort — to move crude and refined products out of the Gulf.theedgemalaysia+1

The UAE left OPEC effective May 1 and rapidly increased production to an estimated 4.1 million barrels per day in June, its highest output ever, according to International Energy Agency estimates cited by Oil & Gas 360. While a cross-country pipeline bypassing Hormuz handles less than half of the roughly 3.6 million barrels per day the UAE has exported recently, tanker availability has proved essential.oilandgas360+1

Broader Implications

ADNOC has issued at least seven tenders offering crude cargoes since June, with loadings from UAE ports inside and outside the Persian Gulf. Saudi Arabia, which also operates a large tanker fleet, has relied more heavily on its own pipeline to route crude from Gulf fields across the Arabian Peninsula to the Red Sea.theedgemalaysia+1

The fleet expansion positions ADNOC L&S to capture further opportunities in international energy trade as the UAE continues to press its production advantage outside OPEC constraints.