Total Snags Stake In New UAE Onshore Concession

France’s Total became the first of the oil majors competing for a stake in the UAE’s 1.6mn b/d onshore oil concession to snag a slice of the prized acreage, pipping Shell and BP to the post. The latter two majors are still in the running but have yet to sign on the dotted line, with Abu Dhabi holding out for top dollar from the eight remaining contenders.

Total said on 29 January that it had signed a new, 40-year onshore...