ADNOC to Shift Crude Pricing Methodology from November 2026

Abu Dhabi National Oil Company (ADNOC) will update its crude oil selling price methodology from November 1, 2026. The company will transition from the current Murban futures-based model to a prompt-month pricing structure based on Platts Dubai.

ADNOC Announces Shift to Prompt-Month Pricing

Abu Dhabi National Oil Company (ADNOC) has announced an update to the Official Selling Price methodology for its Abu Dhabi crude grades, transitioning to a prompt-month pricing structure following a regular commercial review.

According to ADNOC, effective November 1, 2026, the state-owned energy group will shift from its current ICE Futures Abu Dhabi-based pricing mechanism to a prompt-month pricing framework. The existing model utilizes the Murban futures contract and prices crude two months ahead of loading.

Under the revised approach, pricing will be based on the Platts Dubai benchmark, supplemented by an ADNOC-announced differential set in the month preceding the target delivery month. The updated methodology will apply across all ADNOC Abu Dhabi onshore and offshore crude grades, including Murban, Das, Umm Lulu, and Upper Zakum.

The company stated that this adjustment aligns pricing more closely with the physical month of loading. "ADNOC continues to see strong demand for its crude grades and remains focused on providing reliable energy supplies to customers around the world, supported by its trading, shipping and logistics capabilities," the company said in a statement.

Rationale and Commitment to Transparency

The energy producer noted that the structural revision aims to enhance commercial clarity across its global operations and investor network. "Moreover, the new pricing mechanism reinforces ADNOC's commitment to pricing transparency for its growing customer and investor base," the report noted.

No Impact on Financial Instruments or Operations

The company clarified that the transition will not affect existing financial structures or market liabilities associated with its debt instruments. "The change in pricing mechanism is not expected to have a material impact on any ADNOC listed instruments, including issuances completed under ADNOC Murban's GMTN or Sukuk programs," the company stated.

ADNOC added that operational commitments and physical crude deliveries remain unaffected by the shift in market valuation methodology. "ADNOC Group will continue to meet all of its obligations with regard to delivery of its Abu Dhabi onshore and offshore crude grades," the report stated. (ANI)

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