October 8, 2008

UAE Energy Giant Announces Crude Oil Prices for September

UAE energy giant announces crude oil prices for September

ABU DHABI, Oct. 7 (Xinhua) -- The Abu Dhabi National Oil Company (ADNOC), an energy giant of the United Arab Emirates (UAE), announced on Tuesday the retrospective prices of its four main grades of crude oil for September.

According to ADNOC, the price for the onshore Murban crude oil was set at 98.05 U.S. dollars per barrel, down 19.45 dollars compared with that of August.

Prices for the three offshore crudes were set at 98.05 dollars for Lower Zakum, 97.15 dollars for Umm Al Sheif and 94.35 dollars for Upper Zakum, down 19.35, 19.35 and 17.95 dollars respectively compared with the prices of August.

ADNOC, a government-owned company established in 1971, is one of the world's leading oil companies with huge reserves. It currently produces over 2.7 million barrels of oil per day, the company said on its website.

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