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ADNOC to recommend keeping current oil concession structure unchanged
- United Arab Emirates: Tuesday, November 13 - 2012 at 01:56
Abu Dhabi National Oil Co (Adnoc) has said it is willing to keep the current structure of its oil and gas concessions in the UAE unchanged, and will present its recommendation to the Supreme Petroleum Council of Abu Dhabi by early next year at the latest, Reuters has reported. The UAE's concession system allows oil and gas producers to acquire equity in hydrocarbon resources from the country. The first concession renewal is coming up in 2014.
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