ADNOC goes live with futures and commodities trading exchange IFAD | Energy – Gulf News
The Abu Dhabi energy giant ADNOC has launched the ICE Markets Intercontinental Exchange Futures Abu Dhabi (IFAD), becoming the first futures and commodities trading exchange established in the emirate. It is located at Abu Dhabi Global Market (ADGM).
Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Group CEO of ADNOC, announced the launch. In a statement, ADGM saud: “We congratulate @AdnocGroup on the launch of their Murban Crude Oil contract, to be traded on IFAD. This milestone partnership bears witness to Abu Dhabi’s status as a leader in global #energy and an international #trading hub.”
Earlier this month, ADNOC announced that its Murban, Upper Zakum, Das and Umm Lulu crude grades will all be sold 'destination-free' from June, allowing its crude oils to become a freely-traded commodity.
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