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Market Chatter: UAE's Adnoc Reportedly Continues Energy Exports via Hormuz

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Abu Dhabi National Oil Co, or Adnoc, is said to be quietly transporting its oil and gas shipments through the Strait of Hormuz using its own fleet by employing so-called dark transit and other practices.

Bloomberg News reported Monday, citing tracking data, traders, and people with knowledge of the matter, that the United Arab Emirates-based oil producer continues to export energy despite the Iranian navy and the US warships' blockade by switching off its vessels' tracking transponders while crossing the strait.

The vessels include crude and clean petroleum product tankers, and gas carriers controlled by Navig8, which is majority-owned by Adnoc Logistics and Services (ADX:ADNOCLS), the report said.

Adnoc did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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