Abu Dhabi National Oil Company (ADNOC) has imported oil from Iraq, following an upgrade of its only refinery in the UAE, Bloomberg reported on Friday.

The state-backed oil giant’s Ruwais facility has received about 1 million barrels of Basrah crude from Iraq earlier this month, the news agency reported, citing its tanker-tracking data and ship-agent reports.

This is the first time ADNOC has acquired heavier oil from the region to run through its refinery, the news agency said. The move is expected to boost Adnoc’s exports of premium oil.

The oil giant has recently upgraded its refinery in Ruwais to process cheaper and heavier crudes, such as Iraqi grades, enabling it to export more of its own Murban oil, which is considered pricier.

The Ruwais facility has the daily capacity to process more than 900,000 barrels of crude into fuels like gasoline, diesel and jet fuel, including products for chemical plants.

(Writing by Cleofe Maceda; editing by Seban Scaria) 
seban.scaria@lseg.com