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Adnoc assessing bids for 40-year oil concessions as prices sink

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ABU DHABI, United Arab Emirates (Bloomberg) -- Abu Dhabi National Oil Co. is evaluating bids by foreign companies for stakes in the emirate’s biggest fields and has yet to recommend any offers to the government for approval. BP Plc, Total SA and several companies based in Asia are among those seeking to participate with state-run Adnoc in its onshore production of crude as early as January. Abu Dhabi holds most of the crude deposits in the United Arab Emirates, an OPEC member that holds about 6% of global reserves.


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Adnoc assessing bids for 40-year oil concessions as prices sink Adnoc assessing bids for 40-year oil concessions as prices sink Reviewed by Crude Oil Brokers on 13:27 Rating: 5

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