Thursday 9 January 2014

Uncertainty hangs over future running of Abu Dhabi's big oilfields | Reuters

Uncertainty hangs over future running of Abu Dhabi's big oilfields | Reuters:

"* Output seen unaffected, ADNOC needs to sell much more crude

* Majors unlikely to offer help, technology despite staff staying

By Daniel Fineren

DUBAI, Jan 9 (Reuters) - The long-term future of fields that produce about half Abu Dhabi's oil remains unclear with only one day of a 75-year partnership with western oil companies left to run.

Some of the world's largest energy companies - ExxonMobil , Royal Dutch Shell, Total and BP - have been pumping crude from the Abu Dhabi desert for decades, taking payment in oil.

From midnight on Friday, the 9.5 percent equity stakes that each held in the venture operating the fields will expire."

'via Blog this'

No comments:

Post a Comment