SINGAPORE (Reuters) - The Abu Dhabi National Oil Company (ADNOC) plans to export a new crude grade in November and started marketing the oil to its Asian customers this week, two sources with knowledge of the matter said on Wednesday.
The new grade is Umm Lulu, which has an API gravity of 39 degrees and contains 0.7 percent sulfur, they said.
“It’s heavier than Murban and Das,” one of the sources said, referring to ADNOC’s traditional light grades. ADNOC could initially start exporting one to two cargoes a month, the source said.
Exports of the grade could eventually reach 250,000 barrels per day, the second source said.
ADNOC could not be immediately reached for comment.
Reporting by Florence Tan; editing by Richard Pullin