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| Identifier: | 03ABUDHABI3721 |
|---|---|
| Wikileaks: | View 03ABUDHABI3721 at Wikileaks.org |
| Origin: | Embassy Abu Dhabi |
| Created: | 2003-08-12 13:30:00 |
| Classification: | CONFIDENTIAL |
| Tags: | EPET PGOV BEXP ENRG ECON EINV TC |
| Redacted: | This cable was not redacted by Wikileaks. |
null
Diana T Fritz 03/21/2007 11:34:59 AM From DB/Inbox: Search Results
Cable
Text:
CONFIDENTIAL
SIPDIS
TELEGRAM August 12, 2003
To: No Action Addressee
Action: Unknown
From: AMEMBASSY ABU DHABI (ABU DHABI 3721 - ROUTINE)
TAGS: EPET, PGOV, BEXP, ENRG, ECON, EINV
Captions: None
Subject: UAE MAY CUT OIL PRODUCTION LATER THIS YEAR
Ref: None
_________________________________________________________________
C O N F I D E N T I A L ABU DHABI 03721
SIPDIS
CXABU:
ACTION: ECON
INFO: AMB DCM POL P/M
Laser1:
INFO: FCS
DISSEMINATION: ECON
CHARGE: PROG
APPROVED: CDA: RALBRIGHT
DRAFTED: ECON:CCRUMPLER
CLEARED: ECON: GRANA
VZCZCADI268
RR RUEHC RUEHHH RUEHDE RUCPDOC RHEBAAA
DE RUEHAD #3721 2241330
ZNY CCCCC ZZH
R 121330Z AUG 03
FM AMEMBASSY ABU DHABI
TO RUEHC/SECSTATE WASHDC 1257
INFO RUEHHH/OPEC COLLECTIVE
RUEHDE/AMCONSUL DUBAI 3335
RUCPDOC/USDOC WASHDC
RHEBAAA/DEPT OF ENERGY WASHDC
C O N F I D E N T I A L ABU DHABI 003721 SIPDIS DEPT FOR NEA/RA, NEA/ARP, INR/EC, EB/IEP, EB/CBA USDOE FOR INT'L AFFAIRS - COBURN, ALSO CALIENDO USDOE FOR OFFICE OF THE SECRETARY - RHONDA HUDOME USDOC FOR 1000/OC/ USDOC FOR 4520/ITA/IEP/ONE USDOC FOR 4530/ITA/MAC/ONE/DGUGLIELMI 4500/ITA/MAC/DAS/WILLIAMSON 3131/CS/OIO/ANESA E.O. 12958: DECL 08/12/08 TAGS: EPET, PGOV, BEXP, ENRG, ECON, EINV, TC SUBJECT: UAE MAY CUT OIL PRODUCTION LATER THIS YEAR 1. (U) Classified by Charge d'Affaires, a.i., Richard A. Albright, for reasons 1.5 (B) and (D). 2. (C) The Abu Dhabi National Oil Company (ADNOC) acknowledged publicly on August 10 that it will cut oil production in the last quarter of 2003 to undertake major repair work in the Lower Zakum and Umm Shaif offshore oil fields. ADNOC analysts say that production from those two fields could be reduced by as much as 40 percent. ADNOC will try to make up for the shortfall by increasing production of the higher grade Murban crude from other, unspecified fields. A Western oil executive confirmed to Econoff that the scheduled maintenance includes renovations and upgrades that had been delayed earlier this year because of the war in Iraq. ADNOC deferred work that could have affected the production of any one field, and stood ready to ramp up production to offset shortages caused by the loss in Iraqi exports. 3. (U) Current production from those two fields is estimated at about 420,000 barrels per day (bpd). The Abu Dhabi Marine Operating Company (ADMA-OPCO) quarterly bulletin states that current production in the Zakum field stands at 220,000 bpd and Umm Shaif produces about 200,000 bpd. Umm Shaif also has become a major gas producer for the UAE since the completion of the Umm Shaif Gas Development Project in 1994. 4. (C) Comment: Both the Zakum and Umm Shaif fields play a major role in the UAE's total oil production and oil exports -- Zakum alone has 321 oil and gas wells. Although the Western oil exec said that Japan and India are the two major oil importers of the lower grade Zakum and Umm Shaif crude, the announcement nonetheless will put upward pressure on oil prices worldwide. The news comes during a week when oil prices have spiked to their highest levels since before the onset of hostilities in Iraq. End comment. Albright
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