The UAE’s biggest oil company is proposing a new pricing methodology for the sale of crude supplies to term customers, said people with direct knowledge of the matter, opting for an approach that’s more aligned with wider regional trading norms.
Abu Dhabi National Oil Co.’s crude-marketing team has spoken with refiners and traders about the changes and traveled recently to Singapore to explain the proposals, said the people, who asked not to be named as the talks were private. The team have since gone to Japan for similar discussions.
