ADNOC to slash oil shipments in April

Abu Dhabi, March 1, 2010 (WAM)- Abu Dhabi National Oil Company (ADNOC) has announced to reduce oil shipments to customers in April. ADNOC stated that the allocated production cuts in April will be as follows: Murban 15 per cent, Lower Zakum 10 per cent, Umm Shaif 15 per cent and Upper Zakum 5 per cent. The shipment cargoes will be treated at Max/-5 per cent tolerance loading basis.
It added that the move is in line with the commitment of the UAE to the oil production ceiling specified by the Organisation of the Petroleum Exporting Countries (OPEC).