ADNOC announces nomination cut for February 2011

Abu Dhabi, Dec 29, 2010 (WAM) The Abu Dhabi National Oil Company (ADNOC) announced yesterday 10% to 15% 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%, while the allocations of Umm Shaif and Upper Zakum will be reduced by 15% in February. The move follows the Organisation of the Petroleum Exporting Countries' (OPEC) decision to reduce production. – Emirates News Agency, WAM