ADNOC reportedly continues to transport energy cargoes through the Strait of Hormuz
Golden Ten Data reported on May 25 that, according to foreign media, Abu Dhabi National Oil Company (ADNOC) has been quietly using its own fleet to transport oil and natural gas cargoes out of the Persian Gulf, bypassing the Iranian Navy and US warships to deliver energy to customers facing tight supplies. Based on ship tracking data, traders, and informed sources, ADNOC has employed several tactics, including "dark voyages" (where ships turn off their transponders when passing through the Strait of Hormuz), making it one of the most successful producers currently exporting energy from the Middle East. Other Middle Eastern oil-producing countries and Western commodity traders have also been trying to find ways to ship cargo through the Strait of Hormuz, but most companies rely on chartered oil tankers and are therefore subject to the risk preferences of shipowners. In contrast, ADNOC has consistently used vessels controlled by its Navig8 shipping and logistics subsidiary, as well as ships managed by joint venture partners. Kpler Senior Shipping Analyst Matt Wright stated, "As the UAE exits OPEC and seeks ways for ships to cross the Strait of Hormuz with signals off, ADNOC is willing to take on more risk in order to get its oil out."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
McEwen’s $55M Ontario asset sale fuels gold growth plans
US Stock Market Movement | US clinical-stage biopharmaceutical company Retension Pharmaceuticals (RTSN.US) debuts on the US stock market; shares fall over 10% after opening
As of press time, the stock has dropped more than 10%, trading at $10.77.
U.S. Stocks Move | Trex Bio (TRXB.US) Debuts on the U.S. Stock Market, Drops Over 1.3% After Opening
As of press time, the stock has fallen by over 1.3%, trading at $13.805.
BUZZ - Broker Perspectives: Analysts Express Doubts Over Starbucks and Chipotle Acquisition
Latest Update October 9 – The Financial Times reported on Thursday that Starbucks (SBUX.O) has explored a potential acquisition of Chipotle (CMG.N). This move would bring CEO Brian Niccol back to the Mexican burrito chain he once led. Starbucks declined to comment, saying the company remains "fully focused" on its business turnaround. Chipotle's stock fell about 4% to $31.32 on Friday, after surging 6.2% in the previous trading session. Limited strategic rationale BTIG expressed "high skepticism," stating that the deal does not make sense operationally, would cause significant dilution for Starbucks shareholders, and would disrupt management operations. "Over the years we've heard many stories about multi-brand acquisitions... but few have materialized, and even fewer have succeeded," BTIG noted. William Blair pointed out that Starbucks’ $9.4 billion net debt as of June makes it difficult to finance an acquisition and could push the combined company’s leverage ratio to about six times—considered high for the restaurant industry. D.A. Davidson stated the probability of the deal succeeding is 20% or less, given the significant differences between the brands and the apparent lack of clear synergies. Raymond James noted that due to the low overlap in menus, supply chain benefits are likely limited, while performance among multi-brand restaurant platforms has been mixed. eMarketer’s Suzy Davidkhanian commented that Niccol's familiarity may reduce execution risk, but investors might still see the deal as a "costly distraction" during Starbucks’ transformation. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Automated translation may be inaccurate or fail to include necessary context; Reuters does not guarantee the accuracy of automated translated text and provides it solely for readers’ convenience. Reuters accepts no responsibility for any damage or loss resulting from the use of automated translation functions.)
Crypto prices
More
