UAE Oil Exports Boosted as Fujairah Resumes Loading After Floods

(Bloomberg) — Crude oil and condensate exports from the UAE are set to gain traction as shipments from Fujairah’s off-shore export terminals resume after a hiatus of more than two weeks caused by heavy rains and flooding.

The supertanker Kashimasan loaded from Das Island, then additionally on the single-point mooring facility off the coast of Fujairah on Aug. 16 earlier than crusing towards Cochin, India. The VLCC was the primary tanker to reach at Fujairah since Abu Dhabi Nationwide Oil Co., the state power agency, suspended loading operations from the terminal late final month.

Oil shipments shrank marginally in August as Abu Dhabi diverted its Murban crude exports to the Jebel Dhanna terminals within the Persian Gulf. Emirati exports had been about 3.57 million barrels a day within the first 16 days of August, in response to tanker-tracking knowledge monitored by Bloomberg. That was a modest drop from a revised 3.72 million barrels a day in July, when month-to-month volumes rose to the very best in additional than 5 years.

Operations are returning to regular, Port of Fujairah Managing Director Mousa Murad mentioned Tuesday. Whereas the port has been comparatively unscathed by flooding, the related oil terminals skilled a extra extreme affect. All the loading factors are practical now however some operators are nonetheless taking measures to guard their electrical parts, Murad mentioned.