The Abu Dhabi National Oil Company (ADNOC) said on Friday that attacks on its vessels and employees are significantly impacting operations, even as the company works to maintain the flow of crude oil, natural gas, and refined products through the Strait of Hormuz.

According to ADNOC, 15 of its vessels have been struck by missiles or drones since the war began, including three attacks this week alone. One crew member has been killed and 20 others have been injured in the incidents.

The Strait of Hormuz previously carried approximately one-fifth of global oil consumption before the U.S.-Israeli war against Iran widened into a broader regional conflict. Repeated strikes on commercial vessels have disrupted shipping traffic through the critical waterway, pushed freight costs sharply higher, and led some shipowners to avoid entering the Persian Gulf entirely. War risk insurance premiums for vessels transiting the strait have climbed as underwriters reassess the threat level, adding to the cost burden on cargo owners and charterers.

ADNOC stated that it is cooperating with authorities to safeguard personnel and assets while continuing to meet customer requirements "as much as possible" in what the company described as an exceptionally challenging operating environment.

The attacks are affecting one of the few Gulf producers that has managed to bring exports back near pre-war levels. The United Arab Emirates, one of OPEC's largest producers, has leveraged crude loading points outside the Strait of Hormuz, including the port of Fujairah on the Gulf of Oman, which connects to interior oil fields via the Habshan–Fujairah pipeline and allows exports to bypass the strait entirely. Despite this advantage, the UAE continues to move some barrels through the strait given the scale of its export infrastructure on the Persian Gulf side.

ADNOC is simultaneously expanding its shipping capacity as these risks mount. Its logistics arm announced Friday the acquisition of six very large crude carriers (VLCCs) and five very large gas carriers for approximately $1.3 billion. VLCCs are the largest crude oil tankers in service, each capable of transporting around two million barrels per voyage.

Nine of the newly acquired vessels are scheduled to enter service within the current quarter, while two newbuild gas carriers are expected to join the fleet in the fourth quarter. ADNOC Logistics & Services already owns more than 340 vessels and operates an additional 600 chartered ships.

The fleet expansion is intended to support higher crude and LNG exports as ADNOC scales up production and trading volumes. The company also ordered four new LNG carriers last month under a separate $900 million deal.

"Freedom of navigation and the safe, uninterrupted passage of commercial shipping through international waterways must be respected and protected," ADNOC said in its statement on Friday.

Source: OilPrice.com