Adnoc to halt offshore oil sales to Japanese refiners

TOKYO —Abu Dhabi National Oil Co. (Adnoc) has told two refiners in Japan that it would not supply them any offshore crudes at all in November, a deeper cut than expected as the company gave more details on the impact of maintenance.

By (Reuters)

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Published: Sat 29 Sep 2007, 8:47 AM

Last updated: Sat 4 Apr 2015, 11:45 PM

Adnoc, the main oil producer for the United Arab Emirates, an Opec member, notified a Japanese lifter that its supply of Umm Shaif, Lower Zakum and Upper Zakum crude grades for November would be zero, compared with full contracted volumes for October, a source said yesterday.

Another lifter also has received a notice that it would not get supplies of Lower Zakum for November, another source said.

That represents a deeper cut in supplies than reported earlier this week, when an industry source said Adnoc had informed a different Japanese customer that it would halve term November exports of the three grades.

Adnoc said on Sunday that oilfield maintenance would reduce oil production by 600,000 bpd in November, but it did not say whether the full extent of the reduction would be passed on to customers. It said it had agreed to advance or delay shipments in order to meet its full commitment to customers.

Oil traders had earlier said as much as 810,000 bpd of output could be shut in for two to three weeks during the peak of the maintenance.

A separate industry source said one Taiwanese lifter has not yet received a notice from Adnoc, but added that it did not expect a supply cut for the three grades as deep as 50 per cent.



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