A joint venture between BP and the UAE’s ADNOC looks like it might be step towards some sort of positive working arrangement between the U.S. and its allies on the one side and one of the most important Arab states on the other side
The new joint venture in Egypt will be 51 % owned by BP and 49 % by Adnoc. With this move, the joint venture is expected to grow a highly competitive gas portfolio by combining the deep technical capabilities and track records of both the firms.