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Sunday, 19 February 2017

Abu Dhabi Awards China's CNPC Stake in Main Onshore Oil Deposits - Bloomberg

Abu Dhabi Awards China's CNPC Stake in Main Onshore Oil Deposits - Bloomberg:

"Abu Dhabi National Oil Co. awarded a stake in its largest oil concession to China National Petroleum Corp. as the Middle East emirate brings in more foreign investors to raise crude production capacity.

CNPC will take an 8 percent stake in the oil-production joint venture in return for paying a $1.8 billion signing bonus, Adnoc said in a statement Sunday. BP Plc joined the project in December for a 10 percent stake after Total SA took the same share in January 2015."



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