The Abu Dhabi National Oil Company (Adnoc) announced today 10 per cent to 15 per cent cuts in its crude allocations to clients during the month of February 2011.
According to the statement issued by Adnoc, the cargoes of Murban and Lower Zakum will be cut by 10 per cent, while the allocations of Umm Shaif and Upper Zakum will be reduced by 15 per cent in February.
The move follows the Organisation of the Petroleum Exporting Countries' (Opec) decision to reduce production.