MOSCOW/CAIRO – Abu Dhabi’s Supreme Petroleum Council (SPC) announced majorincreases in oil and gas reserves and added that Abu Dhabi National OilCompany’s (ADNOC) Murban crude oil to be listed on future exchanges, AbuDhabi’s Crown Prince Sheikh Mohamed bin Zayed said on Monday.
“With the blessing of UAE President HH Sheikh Khalifa, the SupremePetroleum Council announced major increases in #AbuDhabi oil & gasreserves,” Mohamed bin Zayed tweeted.
He stressed that the council made a “historic decision” to list ADNOCMurban crude oil on an exchange, adding that the move would strengthen “AbuDhabi’s position as a global energy player.”
ADNOC group hailed the decision in a statement on Twitter.”The SupremePetroleum Council (SPC) takes historic and strategic decision to listADNOC’s Murban crude as a futures contract on an internationally recognizedexchange, unlocking greater value for its customers, ADNOC and the UAE,”the company said, Sputnik has reported.
Abu Dhabi National Oil Company said in early September that itretrospectively set the official selling pricelinkofits benchmark crude – Murban crude – for the month at $65.20 per barrel, bycomparison with $62.30 for the previous month.