Partnerships with private oil companies: Advantage, Abu Dhabi - The National:
"Before the Second World War, partnerships between the resource-rich governments of this region and international oil companies (IOCs) were established through concessions. Abu Dhabi was no exception. It has two major concession agreements with IOCs, one for onshore oil operations and another for offshore. The concessions were lucrative deals for the IOCs as they received the property rights of massive untouched areas for which they had to give a fixed amount of money per tonne of oil produced.
After the Second World War, this type of agreement was difficult to sustain, as many newly independent countries were demanding a more equitable deal under the banner of a New International Economic Order through the newly established United Nations."
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