DUBAI: Abu Dhabi National Oil Company (ADNOC) will remove all destination restrictions for all its crudes, and has signed deals to explore use of Murban futures with Chinese end users, a senior ADNOC executive said on Wednesday.
Intercontinental Exchange Inc will launch ICE Futures Abu Dhabi (IFAD) and trade in Murban futures contracts this month.
The oil company said that it expects Murban crude to contribute about half of its 5 million barrels per day (bpd) production capacity by 2030.
