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Sunday, August 2, 2026 23:17 GMT
Abu Dhabi National Oil Co (ADNOC) has bought five very large crude carriers (VLCCs) for about US$590 million, three sources familiar with the matter said, expanding its fleet as conflicts in the Red Sea and the Strait of Hormuz tighten tanker supply. The acquisitions are part of a broader push by the UAE producer to control more of its supply chain, allowing it to move crude to customers even as geopolitical tensions disrupt two of the world's busiest maritime routes. ADNOC Logistics and...More