nited Arab Emirates oil giant Abu Dhabi National Oil Co. imported a crude oil cargo in a rare move after upgrading its only refinery, which will allow it to sell more of its own higher-value barrels. Adnoc upgraded its Ruwais refinery to process heavier and cheaper crudes like Iraqi grades and Abu Dhabi’s own offshore barrels. That means it can export more supplies of its own Murban crude, which is lighter and more valuable. The tanker Orient M delivered a cargo of about 1 million barrels of Basrah crude from Iraq to Ruwais earlier this month, according to Bloomberg tanker-tracking data and ship-agent reports. After ... (full story)