UAE and India sign ‘historic’ oil agreement

[BHarwana]

By Ahmed al-Masri and Zeynep Tufekci

ABU DHABI

The United Arab Emirates (UAE) and India signed a “historic” oil agreement, local media reported Saturday.

The country’s official Emirates News Agency (WAM) reported that Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Narendra Modi, Prime Minister of India signed the “historic agreement,” which awarded “a consortium of Indian oil companies a 10 percent interest in Abu Dhabi’s offshore Lower Zakum concession”.

The agreement, which will go into effect on March 9, will have a 40-year term, the WAM reported.

The Indian consortium contributed a participation fee of around $599 to enter concession, according to the WAM.

The agency reported that it was the first time “Indian oil and gas companies have been given a stake in Abu Dhabi’s hydrocarbon resources”.


http://aa.com.tr/en/middle-east/uae-and-india-sign-historic-oil-agreement-/1059973

 

[BHarwana]

The Oil reserve of UAE are about to expire so what will India gain from It?

 

[Handshake]

The Oil reserve of UAE are about to expire so what will India gain from It?

Lmao the same shi*t i was thinking as well.
UAE is getting out of oil.

 

[El Sidd]

Crude Oil ka vedic formula bech diya UAE ne.

 

[Path-Finder]

The Oil reserve of UAE are about to expire so what will India gain from It?

These deals are between those who are in camp,

 

[BHarwana]

Lmao the same shi*t i was thinking as well.
UAE is getting out of oil.

I think it is just Modi's plan for corruption.

These deals are between those who are in camp,

Okay but UAE is about to run out of Oil. so still I don't under stand this deal?

 

[Path-Finder]

I think it is just Modi's plan for corruption.


Okay but UAE is about to run out of Oil. so still I don't under stand this deal?

optics!

 

[BHarwana]

UAE has 92 billion barrels left so this deal is of what 9 billion barrels? India consumes 4 million barrales per day so what will India gain with this investment ? Only Modi will get cutbacks.

 

[!eon]

Iran is already oil shop of India. I would like to hear your views, my dear friend @BHarwana

 

[graphican]

UAE has 92 billion barrels left so this deal is of what 9 billion barrels? India consumes 4 million barrales per day so what will India gain with this investment ? Only Modi will get cutbacks.

Some investments are made to gain influence only. Looks like this is one such initiative.

 

[BHarwana]

Some investments are made to gain influence only. Looks like this is one such initiative.

This seems like more of a cut back to Modi than influence.

 

[graphican]

This seems like more of a cut back to Modi than influence.

Hindu Baniya doesn't do trade of loss.

 

[Śakra]

Iran is already oil shop of India. I would like to hear your views, my dear friend @BHarwana

How dare you insult his beloved iran?

 

[The_magnificent]

UAE has 92 billion barrels left so this deal is of what 9 billion barrels? India consumes 4 million barrales per day so what will India gain with this investment ? Only Modi will get cutbacks.

If India can get 9 billion barrels of oil as per you say. one barrel of crude oil cost $57 approx. so what India can gain is 513 Billion USD worth of Oil

What we invested is USD 600 million.

You still can't see any gain ??
Even if we get 2 - 3 billion barrels of Oil we will end up making huge profits.

 

[Sully3]

Didnt UAE make it pretty much clear that the oil levels are low and they want to move from an oil based economy to a tourists based economy.