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The meeting came as divisions grow in Europe over the proposed tariffs
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Adnoc sends 2m barrels of oil to SK facility
Abu Dhabi National Oil Co, or Adnoc, has delivered two million barrels of crude to South Korean storage facilities, the first such shipment by the UAE firm after it leased the space to store six million barrels, South Korea’s energy ministry said.
Leasing benefits South Korea in terms of oil supply security as it has first rights to the stored crude in case of emergency, while the arrangement allows leaseholders to quickly move cargoes in the region to meet any change in demand.
Adnoc rented the space to store six million barrels from South Korea late last year, becoming the twelfth international company to hold storage facilities in the world’s No.5 crude importer, joining other producers, oil majors and investment banks.
The remaining four million barrels from the energy giant are scheduled to be delivered within six months.
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