Special to WorldTribune.com

ABU DHABI — China has been granted the right to produce and export oil from the United Arab Emirates.

The state-owned China National Petroleum Corp. reached agreement to
develop seven energy fields in the UAE emirate of Abu Dhabi.

Under the accord, CNPC would be given a share of the UAE oil.

“This is part of the concession system offered to foreign energy
contractors,” an official said.

Details of the accord were not disclosed by either China or the UAE.

Abu Dhabi National Oil Co. has been signing ventures in which foreign partners
receive 40 percent of energy developed and produced in the Gulf Cooperation
Council state.

  Abu Dhabi National Oil Co., China awarded oil share in deal with UAE for developing new energy fields, China National Petroleum Corp.