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ADNOC announced on 31 July 2026 that it would change the pricing methodology for its crude oil sales from 1 November. The UAE company's new approach uses prompt-month Platts Dubai assessments, identified by code PCAAT00, plus an ADNOC differential announced in the month before delivery. The change concerns Murban, Das, Umm Lulu and Upper Zakum grades, linking a commercial pricing update to production from its upstream portfolio.
The existing approach used ICE Futures Abu Dhabi Murban futures prices from two months before the loading month. The announced replacement therefore changes the reference and timing used to establish sales prices. It is not a published forecast of where oil prices will trade, and the release does not supply a new realized selling price for any individual cargo or producing well.
ADNOC said delivery commitments would continue and did not expect a material impact on the relevant Murban financing arrangements, including its global medium-term notes and sukuk. That statement is the issuer's assessment, rather than a guarantee of future market outcomes. The effective date remains important: the July announcement did not itself bring the November methodology into force during the summer.
For well-industry business analysis, pricing mechanics connect physical production with revenue realization, but they should remain separate from drilling and reservoir performance. A changed benchmark does not establish higher well output or additional reserves. Tracking the assessment period, grade and contractual differential can help interpret future sales information more accurately. Actual revenue effects will depend on prevailing reference prices and the terms applied to deliveries. The official release supports documenting the commercial rule change and its start date, not estimating a new price advantage without transaction data.