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FINANCIAL NEWS
BP’s Dudley hopes the firm will be included in UAE oil bidding
12 Nov 2012
(MENAFN) Bob Dudley, CEO of BP Plc, the company that was excluded from pre-qualification bidding to develop Abu Dhabi’s largest onshore oil fields, said the firm hopes it can be included in the process, Reuters reported.
Dudley added that he hopes to hear about the concessions “in the next week or so”.
In August sources spoke about BP being excluded from joining the pre-qualification process due to the UAE’ irritation over UK policies. Dudley said BP was not aware it was shut out.
The concessions system allows oil and gas producers to acquire equity in hydrocarbons from the UAE in return for investing in projects.
Oil concessions have been under the spotlight since early last year as the date for the renewal of the biggest field with 1.5 million bpd capacity approaches.
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