ADCO Moves to Cut Expenditure and Rationalize Operations

The Abu Dhabi Company for Onshore Oil Operations (ADCO) in 1986 took steps to rationalize its operations and review its capital programs in the wake of the decline in the international oil market, with total expenditures dropping to $450mn in 1986 from over $500mn in 1985, according to the company's 1986 Annual Report. The full impact of the scaling down of the company's capital programs and operations will take effect in...