Abu Dhabi National Oil Company (ADNOC) has sold more straight-run fuel oil (SRFO) from its Ruwais refinery complex this month via private sales, according to trade sources and ship-tracking data.

The higher sales emerged because of maintenance works on the residue fluid catalytic cracker (RFCC) unit at Ruwais, sources told Reuters.

At least two SRFO cargoes are loading out from Ruwais this month compared to zero last month, ship-tracking data from Kpler showed.

A total of 170,000 metric tons of SRFO were loading from Ruwais in January, with fuel oil export volumes at their highest in about a year and a half, the data showed.

An ADNOC spokesperson confirmed that planned maintenance has commenced at the Ruwais refinery but declined to comment on cargoes.

The 127,000 barrels-per-day (bpd) RFCC unit processes heavy residual fuel oil into higher-valued refined products such as gasoline and diesel.

The unit is located in the western part of the 835,000-bpd Ruwais refinery complex.

In late 2022, the Emirati company approved a five-year business plan and capital expenditure of $150 billion (550 billion dirhams) for 2023-2027. It also brought forward its target of five million barrels per day oil production capacity expansion to 2027 from 2030.

ADNOC on Monday said its “In-Country Value” program had driven $11.2 billion into the UAE’s economy in 2023, and the board endorsed a goal for the program to generate $48.5 billion over the next five years.