Abu Dhabi National Oil Company announces the resumption of crude oil loading at Persian Gulf ports

(1) Abu Dhabi National Oil Company (ADNOC) stated in a notice sent to clients that crude oil loading from inner ports in the Persian Gulf has resumed. Several consignees have confirmed this information. (2) The company stated that, starting from April 27, cargoes can be loaded at Das Island and Zirku Island ports in the Persian Gulf. Given the recent agreement between the US and Iran and expectations of unhindered traffic through the Strait of Hormuz, the company anticipates all cargoes will be executed according to the published loading schedule. (3) The notice emphasizes that failure by buyers to take delivery will constitute a breach; at the same time, if buyers are unable to arrange their own oil tankers, ADNOC can provide its own or related vessels to assist, and as stipulated, buyers who do not receive the goods will be required to pay compensation to the seller.