Submitted by Julianne Geiger of OilPrice.com
Abu Dhabi National Oil Company said attacks on its vessels and employees are having a significant impact on operations as the company tries to keep crude, gas and refined products moving through the Strait of Hormuz.
Fifteen ADNOC vessels have been hit by missiles or drones since the war began, including three this week, the company said Friday. One crew member has been killed and 20 others injured.
The Strait of Hormuz carried roughly one-fifth of global oil consumption before the U.S.-Israeli war against Iran expanded into a broader regional conflict. Repeated attacks on commercial vessels have disrupted traffic through the waterway, driven freight costs sharply higher, and made some shipowners reluctant to enter the Persian Gulf.
ADNOC said it is working with authorities to protect personnel and assets while meeting customer requirements “as much as possible” in what it called an exceptionally challenging operating environment.
The attacks are hitting one of the few Gulf producers that has managed to restore exports close to pre-war levels. The UAE has relied on crude loading points outside Hormuz, including Fujairah, while continuing to move some barrels through the strait despite the security risk.
ADNOC is expanding its own shipping capacity even as those risks increase. Its logistic
