Key facts
- Adnoc Logistics and Services is acquiring 11 tankers for $1.3 billion.
- The fleet expansion includes six VLCCs and five VLGCs.
- Nine vessels are due for delivery this quarter, with two newbuilds in Q4 2026.
- ADNOC stated that 15 of its vessels have been attacked, resulting in one death and 20 injuries.
- The UAE aims to reach 5 million barrels per day of oil production capacity by 2027.
Adnoc Logistics and Services, the logistics arm of Abu Dhabi National Oil Company (ADNOC), is acquiring 11 supertankers for approximately $1.3 billion to bolster its crude oil and liquefied petroleum gas (LPG) shipping capabilities. The deal includes six Very Large Crude Carriers (VLCCs) and five Very Large Gas Carriers (VLGCs). Nine of these vessels are slated for delivery this quarter, with the remaining two newbuild VLGCs expected in the fourth quarter of 2026. This expansion aligns with ADNOC Group's strategy to increase production, trading, and export volumes, supporting the UAE's goal of reaching 5 million barrels per day of oil production capacity by 2027. The move also comes as ADNOC has reported that "unprovoked attacks" have significantly impacted its operations, with 15 vessels targeted, resulting in one fatality and 20 injuries. The company is adapting by utilizing dark mode tankers through the Strait of Hormuz and increasing offshore loadings, while also expanding its LNG carrier fleet.