Article length: 341 words
Adnoc renews Qatar oil field deal as oil economics trumps Gulf politics
Abu Dhabi National Oil Company’s high-profile deals with IOCs have been tempered by a dose of Gulf-style realpolitik, as Adnoc in mid-March renewed – with rather less fanfare – a concession agreement in the Bunduq offshore oil field, which it shares with Qatar Petroleum (QP). This was another sign that strategically vital energy co-operation projects remain insulated from the strict embargo imposed on Qatar by its Gulf Co-operation Council (GCC) rivals; natural gas also continues to flow from Qatar to the UAE through the Dolphin pipeline.
Credit value: 4