ADNOC Shipping Arm Looks East For Profits 

Facing a downturn in tanker rates and resultant lower margins, state-owned Abu Dhabi National Oil Company (ADNOC) is growing increasingly dependent on the South Asia and Asia-Pacific markets to make a profit from its crude and products shipping division. 

‘Ali al-Yabhuni, the CEO of Abu Dhabi National Tanker Company (ADNATCO), a wholly-owned ADNOC subsidiary, said “it is clear that the current situation in which...