Sunday 13 April 2014

Oil firms have ‘good chance’ of winning Abu Dhabi concession renewal | The National

Oil firms have ‘good chance’ of winning Abu Dhabi concession renewal | The National:



"The largest US and European oil companies have a “good chance” of winning renewals for Abu Dhabi crude-oil concessions, according to the UAE Energy Minister Suhail Mohammed Al-Mazrouei.



“Unless they aren’t aggressive in giving us value, I think they will have a very good chance,” the minister told reporters at an oil conference in Paris. “They are the best in understanding the field because they have been there for 70 years and we hope they will be among the winners.”



Exxon Mobil, BP, Royal Dutch Shell and Total lost their rights as shareholders in the company operating Abu Dhabi’s onshore oil fields after their joint venture expired"



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