Lukoil supplied oil from the Caspian fields to refineries in the UAE

According to media reports, this is the second supply of Lukoil oil to the UAE refinery: last year the company supplied Varandey grade oil to the UAE.
BAKU, August 9 - Sputnik. The Russian company Lukoil for the first time this year sent low-sulfur oil from its fields in the Caspian Sea to the refinery of the Emirati ADNOC (Abu Dhabi National Oil Company), the Kommersant newspaper writes, citing data from the analytical company Kpler.

"The Emirati ADNOC purchased a spot batch of 861,000 barrels (about 110,000 tons) of CPC Blend oil from Lukoil for its refinery in Er Ruwais. This is a supply from the Filanovsky field in the Caspian Sea, oil from which is shipped to system of the Caspian Pipeline Consortium (CPC; Lukoil's share is 12.5%)," the publication says.

This is the second supply of Lukoil's oil to the Emirati refinery - last year the company supplied Varandey grade oil to the Emirates.
According to the material, since last year, Russian oil companies have begun to actively send oil and oil products in the direction of Fujairah to the UAE, including for blending and subsequent re-export. This happened after the introduction of US and EU sanctions against the Russian Federation, which made it difficult to export Russian raw materials. As a result, the largest consumers of Russian oil have become Chinese and Indian refineries, which have benefited from the fact that Russian oil began to trade at a significant discount to the Brent grade.

Lukoil has cooperated with ADNOC before. It is noted that in May last year, she announced the readiness of the Emirati company to use Russian-made "energy-efficient equipment" in its fields. In addition, in 2019, Lukoil received a 5% stake in Ghasha, a project to develop nine shallow water fields in the Persian Gulf, together with ADNOC (55%), Eni (25%), Wintershall (10%) and OMV (5%). The project involves annual production of 40 million cubic meters of gas and 120,000 barrels of oil and condensate per day.