Inpex

BP signs $2.2 bln Abu Dhabi oil deal

Published by Hurriyet on Sun, 12/18/2016 - 11:21

British oil giant BP secured a 10-percent share in an onshore oil concession in Abu Dhabi on Dec. 17 in a deal worth $2.2 billion, the companies said.

BP signed an agreement with Abu Dhabi National Oil Company (ADNOC) to take a stake in the Abu Dhabi Company for Onshore Petroleum Operations (ADCO) which operates the 40-year concession.

Asia energy firms sink with oil as Doha output talks fail

Published by Hurriyet on Mon, 04/18/2016 - 14:36

Oil prices plunged in Asia on April 18, pushing energy firms and regional stock markets lower after the collapse of talks among the world's top oil producers intended to ease a global supply glut.

Hopes that the talks in Doha on Sunday would result in an output cap helped the black gold climb to 2016 highs last week, having approached 13-year lows just months ago.