BP is back in the running for Abu Dhabi’s onshore oil concession after its unexpected earlier omission from a bidding round in which diplomatic tensions and the changing geopolitics of oil have loomed large, people familiar with the matter say.
The company was not invited over the summer to pre-qualify for bidding for the renewal in January 2014 of the emirate’s 1.4m barrel a day concession, even though it is one of four western majors that hold stakes under the existing 75-year deal.
Many observers saw the action as a calculated snub, reflecting a political disagreement between Abu Dhabi and London, as well as the emirate’s desire to bring in businesses from Asia and elsewhere.
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