Middle East Economic Survey


No 18


ADNOC Allocation Cuts For June Held At 10-20%

Abu Dhabi National Oil Company (ADNOC) on 27 April announced that crude allocations for customers during June 2010 would be set at 10-20% below the full volume. ADNOC said in a statement that the cuts were being made in accordance with the OPEC decision to reduce production. For June, the allocation for Murban will be reduced by 12%, for Lower Zakum 20%, for Umm Shaif 10% and for Upper Zakum 15%....