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Intercontinental Exchange to Launch ICE Murban Futures in Abu Dhabi

Gasoil News - Published on Wed, 13 Nov 2019

Image Source: adnoc
Leading operator of global exchanges and clearing houses Intercontinental Exchange Inc announced that Abu Dhabi National Oil Company and nine of the world’s largest energy traders are partnering with ICE on the launch of ICE Futures Abu Dhabi, a new exchange in Abu Dhabi Global Market that will host the world’s first Murban crude oil futures contracts. The nine companies supporting the launch of ICE Futures Abu Dhabi are BP, GS Caltex, INPEX, JXTG, PetroChina, PTT, Shell, Total and Vitol.

ICE Murban Futures will be a physically delivered contract with delivery at Fujairah in the United Arab Emirates on a free on board basis. Murban Crude is a light sweet crude produced by ADNOC. ADNOC produces roughly three million barrels of oil per day, of which approximately 1.7 million barrels per day is Murban crude.

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Posted By : Yogender Pancholi on Wed, 13 Nov 2019
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