#Qatar Ships First Oil Cargo to #UAE Since Gulf Embargo Ended - Bloomberg

Qatar Ships First Oil Cargo to UAE Since Gulf Embargo Ended - Bloomberg

Qatar exported what appeared to be its first oil cargo to a Persian Gulf neighbor since the United Arab Emirates and three other countries agreed to restore ties with Doha in January.

Qatar loaded about 700,000 barrels of oil onto the tanker Abu Dhabi-III on March 4 and the vessel delivered the fuel to Dubai’s Jebel Ali port 3 days later, Bloomberg tanker tracking data show. The exports may be a sign that business is getting back to normal now that the three-and-a-half year suspension of diplomatic and trade ties has come to an end.

Emirates National Oil Co., the government refinery in the UAE business hub Dubai, hired the vessel to transport condensate, the data show. At Jebel Ali, ENOC operates a refinery that uses condensate, a light oil liquid often extracted with natural gas, to make products like jet fuel.

Abu Dhabi National Oil Co. also purchased some Qatari condensate prior to the embargo that began in 2017, when the UAE, Saudi Arabia, Bahrain and Egypt severed ties with Qatar. The four countries accused Qatar of meddling in their internal affairs, supporting hardline Islamist groups in the Middle East and becoming too close to Iran -- charges that Doha denies.