Key facts
- The UAE energy ministry offered Saudi Arab Light crude for loading by ship-to-ship transfer between November 10 and 20, 2026.
- Some 1.7 million barrels were offered, later revised to 1.87 million barrels, per another document.
- One source said Saudi Aramco authorized the UAE to sell the oil on its behalf.
- UAE authorities stopped the leak from the Gem No. 2 in late October and kept up coastal cleanup.
The United Arab Emirates has offered to sell Saudi Arab Light crude loaded from a supertanker that was attacked and leaked off its coast, according to three trade sources and a tender document reviewed by Reuters.
The crude was aboard the Gem No. 2, which an unidentified projectile struck in October 2026. UAE authorities stopped the leak in late October and continued cleanup operations along the coast.
The UAE energy ministry offered the cargo for loading by ship-to-ship transfer between November 10 and 20, 2026, the tender document showed. The tender closed on Monday, November 9, 2026. Some 1.7 million barrels were offered, later revised to 1.87 million barrels, according to another document.
One of the sources said the terms for the Saudi cargo were similar to those offered by Abu Dhabi National Oil Co. It is rare for the UAE to market Saudi crude; another source said Saudi Aramco has authorized the UAE to sell the oil on its behalf. Saudi Aramco and the UAE did not respond to Reuters' requests for comment.
The UAE and Saudi Arabia have sought to keep crude exports flowing despite attacks on shipping around the Strait of Hormuz by Iran since the start of the US-Israeli war with Iran, Reuters reported. Both countries have offered incentives, including freight discounts, to attract buyers, according to trade sources.