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UAE replaces Qatar oil with US

Qatar Petroleum (QP), the world's largest oil producer, announced Tuesday that it has raised its LNG capacity from 77 million to 100 million tons a year. Qatar Petroleum Chief Executive Officer Saad Sharida Al Kaabi told a news conference in Doha on 4 July, 2017 [Mohamed Farag/Anadolu Agency]
Qatar Petroleum (QP), the world's largest oil producer [Mohamed Farag/Anadolu Agency]

The UAE will import the country’s first oil cargo from the United States, in an effort to find substitutes for the Qatar condensate supplies as a result of the current Gulf crisis, Reuters reported ā€œsources familiar with the matterā€ saying.

#QatarGate

The UAE stopped condensate imports from Qatar after it, along with Saudi Arabia, Egypt and Bahrain, severed diplomatic and transportation ties with Qatar after accusing it of supporting terrorism. Qatar has denied the claims.

Qatar recently signed a deal with the US aiming to combat support and funding of terrorism. The move has been praised by a number of countries including the UK and Italy, while US Secretary of State Rex Tillerson applauded Qatarā€™s actions and called for the embargo to be lifted.

Read:Ā Saudi Arabia frustrated with oil and gas markets

The informed sources said today that the Abu Dhabi National Oil Co (ADNOC) bought a US Eagle Ford condensate cargo in a tender for September arrival.

One of the sources said: ā€œSpecific volumes were not available but the cargo will arrive in a supertanker that can carry up to two million barrels of oil.ā€

ADNOC declined to comment.

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Asia & AmericasMiddle EastNewsQatarUAEUS
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