Sunday, 11 November 2012

BP CEO hopeful on taking part in UAE oil bidding | Reuters

Oil major BP Plc (BP.L), shut out of pre-qualification bidding to develop Abu Dhabi's largest onshore oil fields, is hopeful it can be included in the process and is waiting to hear soon on the issue, Chief Executive Bob Dudley said on Sunday.

"I'm positive about it ... I'm optimistic that cooperation will go on for a long time," Dudley said on the sidelines of an oil and gas event in the UAE capital, adding that he hopes to hear about the concessions "in the next week or so".

Industry sources had told Reuters in August that BP, which holds a 9.5 percent stake in the ADCO concession that is coming up for renewal in 2014, would not be allowed to participate in the pre-qualification process due to the United Arab Emirates' irritation over UK policies.

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