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ADNOC L&S buys VLCC

The final dividend, equivalent to 6.78 fils per share, will be paid to shareholders on record as of 3rd April 2025. (WAM)
By TRENDS Desk
July 18, 2023 12:15 am
  • The very large crude carrier is a four dual-fuel engine ship – which can also run on liquefied natural gas.
  • The carriers, which can carry up to 2 million barrels of crude per voyage, were built in South Korea.

ABU DHABI, UAE – Abu Dhabi National Oil Company Logistics and Services (ADNOC L&S) has announced the delivery of a new crude carrier as part of a US$2 billion growth strategy.

The very large crude carrier (VLCC) is a four dual-fuel engine ship – which can also run on liquefied natural gas (LNG).

The company said that it has committed $2 billion for more environmentally friendly carriers.

In a filing to the bourse, ADNOC L&S said it has reduced the carbon intensity of its owned fleet by over 20 percent since 2018.

The first VLCC was delivered last month.

The carriers, which can carry up to 2 million barrels of crude per voyage, were built in South Korea by Hanwha Ocean.

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