UAE is selling Saudi oil in a rare move, document shows
NEW DELHI/LONDON: The United Arab Emirates energy ministry is selling 1.7 million barrels of Saudi Arab Light oil via a rare tender, a document showed. Sources said the UAE was selling the oil loaded on the Gem No. 2 tanker, which was struck by an unidentified projectile last month. Since the start of the US-Israeli war with Iran, attacks on commercial vessels in Gulf shipping lanes have driven…
The United Arab Emirates (UAE) energy ministry has announced a rare tender to sell 1.7 million barrels of Saudi Arab Light oil, according to a document. Sources revealed that the oil, loaded on the Gem No. 2 tanker, was recently targeted by an unidentified projectile. The increase in attacks on commercial vessels in Gulf shipping lanes since the onset of the US-Israeli war with Iran has raised security concerns and heightened fears about the conflict's environmental consequences.
Last week, the UAE reported that the oil leak from the Gem No. 2 tanker had been contained. The tender, overseen by the UAE Federal Public Prosecution, will see the Ministry of Energy and Infrastructure sell the cargo through a ship-to-ship transfer from inside the Gulf between November 10 and 20.
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