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Abu Dhabi invites BP to bid in oil concession
- United Arab Emirates: Sunday, December 16 - 2012 at 01:24
British Petroleum (BP) has been invited back to bid for a renewal of its stake in Abu Dhabi's oil concession, Dow Jones has reported. "BP has been allowed back in the bidding process, and has been informed it can submit its bid for the concession," a UAE oil official has been quoted as saying. The concession, which is mostly onshore oil fields, brings in around $50m a year in revenues to BP, based on around $1 a barrel for the approximate 125,000 barrels a day of oil that accrue to BP from the project.
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