An official source at the UAE's Supreme Petroleum Council has said that no concession was awarded to Qatar Petroleum, denying earlier reports from Qatari sources.
In a statement reported by the official WAM news agency, the source said: "The Bunduq field, due to its geographical location, is shared between the Emirate of Abu Dhabi and Qatar. It has been operated via a concession with a Japanese consortium for over four decades. This concession was recently extended by each respective government to the Japanese consortium with no direct communication or engagement between the two states."
"There is no commercial or trading relationship being established between the UAE and Qatar by the extension of this concession," he added.
Oil producers to draft long-term alliance deal by end-2018, says UAE ministerOil producers led by Saudi Arabia and Russia aim to draft an agreement on a long-term alliance by the end of this year, United Arab Emirates energy ... Energy
Lebanon signs deal with three international oil companiesLebanon has signed a deal with an international consortium to start exploratory offshore drilling for oil and gas in what the country hopes will help ... Energy
Saudi Arabia reasserts oil market leadership role with deal in ViennaSaudi Arabia has reasserted its leadership of the oil market on Thursday after brokering its desired extension of output cuts with OPEC and non-OPEC ... Energy
South Sudan owes Sudan $1.3 billion from 2012 oil dealSouth Sudan still owes neighbouring Sudan $1.3 billion from a 2012 deal that ended a dispute over oil payments between the two nations, the deputy ... Energy