Qatar and UAE mark its first commercial energy trade since the end of the blockade

According to S&P Global, Qatar Petroleum (QP) loaded 712,000 barrels of condensate destined for the Emirates National Oil Co. (ENOC) in the UAE on March 3.

This marks the first commercial trade exchange between Qatar and UAE since the end of the land, air, and sea blockade on Qatar that started back in 2017.

Data analytics firm Kpler had pointed out that QP shipped the condensate from Ras Laffan for discharge at the ENOC condensate refinery in Dubai on March 5.

Although ENOC and Qatar Petroleum have yet to announce this publicly, the ship charted by ENOC Abu Dhabi III was seen docked in the Ras Laffan terminal on March 3.

This also happens to take place weeks after the delegations from Qatar and the United Arab Emirates had held their first meeting after the Al-Ula declaration.

The meeting between the two sides took place in Kuwait and looked into setting the mechanisms and procedures for cooperation.

Furthermore, Qatar had stressed the need for improved cooperation for the benefit of the Arab nations in light of the devastating COVID-19 pandemic.

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Source: S&P Global

Cover Image Credit: Vessel Tracker