Adnoc cuts Jan allocations by 10%

The Abu Dhabi National Oil Company (Adnoc) announced 10 per cent cuts in its all crude allocations to clients during the month of January 2011.

According to the statement issued by Adnoc, the cargoes of Murban, Lower Zakum, Upper Zakum and Umm Shaif will be reduced by 10 per cent each in January.

The move follows the Organisation of the Petroleum Exporting Countries' (Opec) decision to reduce production.