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UAE to cut oil production for rig maintenance
Web posted at: 8/17/2007 4:1:38
Source ::: REUTERS

DUBAI • The United Arab Emirates will shut around a quarter of its oil output for two to three weeks of planned maintenance at two of its largest fields from the end of October, a Gulf industry source said yesterday.

The shutdown will cut output from the world’s sixth-largest oil exporter by around 630,000 barrels per day (bpd), he said. Oil traders in Asia said the total output reduction would be as high as 810,000 bpd as a third field would also undergo work.

The Opec member’s output in July was around 2.54 million bpd, according to a survey.

The maintenance will hit production as demand from consumer countries for oil rises ahead of winter. The UAE’s crude is a favoured feedstock for Japanese refiners making heating fuels.

Output from the Upper Zakum field will be reduced to around 180,000 bpd from around 530,000 bpd for about two and half weeks, the source said.

 
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