Intercontinental Exchange (ICE), an operator of global exchanges & clearinghouses and provider of data and listings services, announced that it would launch a new exchange, ICE Futures Abu Dhabi (IFAD). The exchange will host the world's first futures contracts based on Abu Dhabi National Oil Company's (ADNOC's) Murban crude oil. IFAD and ICE Murban futures are slated for launch in early 2020, subject to regulatory approvals, and will seek to rival well-established light crude oil benchmarks WTI and Brent.
ADNOC is one of the world's leading diversified energy and petrochemicals groups with a daily output of about 3 million barrels of oil and 10.5 billion cubic feet of natural gas. ADNOC along with nine of the world's largest energy traders have collaborated with the ICE to set up the world's first Murban crude oil futures contracts. Oil majors namely, BP, Total, Inpex, Vitol, Shell, Petrochina, Korea's GS Caltex, Japan's JXTG and Thailand's PTT have agreed to become partners in this new exchange. However, the exact split of stakes in the new exchange has not been decided yet.
Who prepared this report?
Experienced and qualified team of Marmore Mena Intelligence has prepared this report. Since its inception, Marmore has published over 1000 research reports and covered more than 25 varied industries and policy segments; all focused primarily on the GCC economies.
How exhaustive is this report?
The report spans 3 pages
Can I only download certain sections of the report?
No. The report can be downloaded in full length only
Can we ask questions?
Yes, by all means. You can write your queries to us at firstname.lastname@example.org