BP excluded from early bidding for Abu Dhabi oil fields
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Fri July 6, 2012 11:19 am
china wholesale market

UAE. BP Plc has been excluded from the pre-qualification bidding process to develop Abu Dhabi's largest onshore oil fields, the concession for which is set to expire in 2014, according to a report by the Petroleum Intelligence Weekly.

BP, which has been operating in the United Arab Emirates since 1931, did not receive a three-page letter inviting companies to submit applications to bid for acreage in Abu Dhabi that includes the Bu Hasa, Bab and Asab oil fields, part of the Abu Dhabi onshore Oil Operations (Adco) concession, the July 9 report said citing unnamed sources.

"It remains unclear why BP was not invited, the sources say, but the decision will almost certainly have been approved at the highest levels in Abu Dhabi," the report said. "Whatever the precise reason, it represents a humiliating snub for the UK major."

Oil majors Exxon Mobil Corp, Royal Dutch Shell Plc and Total SA were among companies invited to participate in the pre-qualification bidding round, the report said.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: January 28, 2015
UAE. opportunity for Gulf retailers with shoppers more willing to share personal information in exchange for rewards; 67% willing to share their data, second only to India.
date:Posted: January 28, 2015
UAE. Following two years of 25% annual growth, average prime residential prices have remained flat for the first time since Q1 2013.
date:Posted: January 27, 2015
UAE. Deloitte's 18th annual Global Powers of Retailing report explores innovative trends in the sector; US$4.4 trillion in fiscal year 2013 revenues of top 250 global retailers.
dhgate