Saudi Aramco and Abu Dhabi National Oil continued moving crude cargoes through Hormuz despite the conflict, Bloomberg reported Friday, citing people familiar with the situation.
Non-Iranian crude flows through the Strait of Hormuz have dropped to roughly 500,000 barrels per day since early March, from about 13.6 million b/d before the conflict began.
Saudi Arabia's Aramco Trading and the UAE's Adnoc remained among the few firms still shipping crude through the waterway after Iran effectively shut the route nearly 10 weeks ago.
To move cargoes out of the Gulf, companies have accepted higher shipping risks and costs, while many tankers switched off transponders to reduce the chances of detection, according to Bloomberg.
Iran intensified pressure around Hormuz during the conflict and seized a vessel on Friday after facing US attacks, although the ship reportedly carried sanctioned Iranian crude oil, the analysis added.
Adnoc has emerged as one of the earliest companies to resume exports of crude, fuel and gas through Hormuz, including offers of Upper Zakum crude loaded near Fujairah outside the Persian Gulf.
The supertanker Basrah Energy exited the Gulf in late April after loading crude from Zirku Island on April 17, before transferring cargo near Sohar to another vessel headed toward China, according to Vortexa data cited by Bloomberg.
Another supertanker, Fujairah Energy, remained inside the Gulf near Abu Dhabi as of Thursday after receiving crude through ship-to-ship transfers, the report added, citing Kpler data.
Adnoc provisionally chartered Fujairah Energy for crude deliveries into Asia between May 15 and May 17, as the vessel could continue receiving additional oil cargoes before leaving the Gulf.
South Korea's Sinokor Group controlled both vessels and continued operating actively in the Gulf while many shipowners avoided the region because of elevated security risks and soaring charter rates.
As attacks escalated across the Middle East earlier this week, Iranian drones struck Adnoc Logistics & Services tanker Barakah near Oman while the vessel moved through Hormuz with its transponders switched off.
Shipping data showed fuel cargoes leaving the UAE's Hamriyah port inside the Persian Gulf after companies loaded products from onshore storage onto tankers.
Oil and chemical tanker Musik collected a naphtha cargo from Hamriyah on March 26 before crossing the Strait of Hormuz on May 1, although the company behind the shipment remains unclear.
Despite growing risks around Hormuz, several companies continued moving cargoes through the waterway with vessel transponders switched off, including Greece-based Dynacom Tankers Management.
Mercuria Energy Group Chief Executive Marco Dunand said last month that his company also managed to move ships through Hormuz, adding at the FT Global Commodities Summit that actual tanker traffic exceeds visible vessel-tracking data.
The report said at least 25 tankers have transported cargoes through Hormuz since the conflict escalated, including very large crude carriers capable of hauling about 2 million barrels and smaller Aframax ships carrying roughly one-third that volume.
has reached out to Saudi Aramco and Adnoc for comment.
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