ADNOC announces nomination cut during November 2010

Abu Dhabi, Sept 28, 2010 (WAM)- The Abu Dhabi National Oil Company (ADNOC) announced yesterday 15% to 20% cuts in its crude allocations to clients during the month of November 2010. According to the statement issued by ADNOC, the cargoes of Murban and Lower Zakum will be cut by 15%, while allocations of Upper Zakum and Umm Shaif will be reduced by 20% in September. The move follows the Organisation of the Petroleum Exporting Countries' (OPEC) decision to reduce production.