Middle East Economic Survey
ADNOC Announces Reduction Level For February Allocations
The Abu Dhabi National Oil Company (ADNOC) on 28 December announced that crude allocations for customers during February 2010 would be held at 10-15% below full contract volumes. The allocation for clients for Murban would be reduced by 13%, for Lower Zakum and Umm Shaif crudes by 15%, and for Upper Zakum crude by 10%. It added that cargoes for all four crude oils will be treated at a...