Intercontinental Exchange (ICE) has begun trading Murban Futures, the fruition of the plan launched in November 2019.
ICE Futures Abu Dhabi (IFAD)
Adnoc has signed up two more potential Murban Futures customers and lifted destination restrictions, in addition to providing more market information.
Adnoc has signed on to decarbonisation plans with the Japanese Ministry of Economy, Trade and Industry (METI) while also securing support for the launch of its new Murban future.
Intercontinental Exchange (ICE) plans to launch ICE Futures Abu Dhabi (IFAD) and the world’s first futures contracts based on Murban crude oil on March 29, 2021.
There are brighter days ahead for the oil industry, but companies must be agile and cut costs, Adnoc’s CEO Sultan Al Jaber said in opening remarks to the Adipec conference.