According to reports, the UAE will reduce the onshore crude oil transportation volume of its partners by 20%
Abu Dhabi National Oil Company will reduce the crude oil supply from its onshore partners by about one-fifth this month. It is reported that Abu Dhabi National Oil Company has notified its equity partners that only 80% of the remaining Murban crude oil quota for March is allowed to be extracted. However, flagship crude oil can still be picked up at the Port of Fujairah.
According to traders, some buyers' orders from the Middle East have been forced to cancel due to transportation disruptions. Currently, Abu Dhabi National Oil Company holds a 60% stake in the onshore concession, with the remaining shares held by Total, BP, China National Petroleum Corporation, Japan's INPEX, and Zhenhua Oil
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