Full Breakdown
ADNOC’s Stealth Shipping Keeps Oil and LNG Flowing Through Blockaded Hormuz
5/8/2026, 9:25:02 PM
Stealth Transits Amid Hormuz Closure
Abu Dhabi National Oil Company (ADNOC) has kept a flow of crude and liquefied natural gas (LNG) moving through the Strait of Hormuz by disabling AIS transponders and using transfers. Documented vessels include the VLCC Hafeet (2 million bbl Upper Zakum, loaded 7 Apr, exited 15 Apr), VLCC Aliakmon I (2 million bbl Das, loaded 27 Apr, exited 2 May), Suezmax Odessa and Zouzou N (1 million bbl each), and LNG carriers Mraweh and Mubaraz (each 136,357 m³, Mraweh reappeared near Indonesia on 6 May after a two-week AIS blackout).
Data Snapshot
In April ADNOC shipped at least 4 million bbl Upper Zakum and 2 million bbl Das crude on four tankers (?6 million bbl). Hafeet and Aliakmon I moved 2 million bbl each; Odessa and Zouzou N moved 1 million bbl each. The two LNG carriers together carried 272,714 m³ of gas. Non-Iranian crude flow through Hormuz fell to roughly 500,000 bpd from about 13.6 million bpd pre-conflict, while LNG transits dropped from three vessels per day to less than one.
Why It Matters
Even a modest export volume eases pressure on oil markets, allowing Asian refiners to secure barrels at a $20-per-barrel premium over ADNOC’s official price, while the tactic also proves the blockade is not absolute but raises safety concerns for crews and insurers and makes accurate tracking of export volumes difficult.
Official Statements & Responses
ADNOC and Saudi Aramco declined comment on the transits; the United States announced a pause to “Project Freedom,” its naval escort operation, on 6 May. Iran accused the United Arab Emirates of violating the strait and claimed responsibility for a drone strike on the empty tanker Barakah. Iranian Revolutionary Guard Corps released a map extending its claimed control to areas near Fujairah.
Criticism & Opposition
Analyst Antonia Syn observed that “Adnoc hasn’t declared force majeure, unlike QatarEnergy,” and added that “running the gauntlet on near-scrap steamships is probably a more palatable call than it sounds,” noting transparency concerns and safety risks. Observers note that AIS blackouts “make it near impossible to track total export volumes.”
Conflicting Reports & Gaps
Reuters identified four crude tankers in April, while Bloomberg cited 25 tankers of sizes crossing the strait. Charterers for the Dynacom-managed Suezmax vessels remain unidentified, and the exact loading point for Mraweh’s LNG cargo is unconfirmed.
Verbatim Quotes
- “Adnoc hasn’t declared force majeure, unlike QatarEnergy,” — Antonia Syn, Rystad Energy.
- “Invoking the clause “formally reduces commercial pressure to attempt risky transits, and Adnoc appears determined to avoid fully conceding that gulf LNG is stranded,” she said.” — Antonia Syn.
- “There’s various ways to do it,” — Marco Dunand, CEO, Mercuria Energy Group.
- “I’d expect these vessels to follow a similar route," said Kyle Hewitt, an executive at Orbify.” — Kyle Hewitt, Orbify executive.
Outlook
ADNOC has notified customers of May loadings via STS transfers at Fujairah and Oman’s Sohar, is negotiating with Asian refiners, and notes that ongoing U.S.–Iran diplomatic talks could alter the blockade’s status while the company remains prepared to continue stealth transits.
