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

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: May 5, 2015
UAE. JLL's Hotels & Hospitality Group has released its 2015 Middle East Hotel Intelligence Reports today for the key markets of Dubai, Abu Dhabi, Doha, Jeddah and Riyadh, at the Arabian Hotel Investment Conference (AHIC) in Dubai.
date:Posted: May 5, 2015
UAE. Inbound announced deal value increased from US$0.4 billion in Q1 2014 to US$2.6 billion in Q1 2015; Q1 2015 announced MENA M&A deal value increases by 9% to US$8.9 billion; 69% of MENA executives expect the deal market to remain stable in 2015.
date:Posted: May 4, 2015
UAE. Continued volatility seems to be the only certainty at the moment. Although it's hard to predict with any degree of certainty which way the charts will swing, the election polls remaining close does point towards investor sentiment weighing on the GBP.
UAE. Inbound announced deal value increased from US$0.4 billion in Q1 2014 to US$2.6 billion in Q1 2015; Q1 2015 announced MENA M&A deal value increases by 9% to US$8.9 billion; 69% of MENA executives expect the deal market to remain stable in 2015.
dhgate