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Sunday, 20 July, 2008, 02:20 GMT | more prices >>

Oxy 'out of Shah race'

By Upstream staff

Occidental Petroleum has been advised by Abu Dhabi's national oil company that it has not been selected to develop sour gas reserves at the Shah field in the United Arab Emirates, reports said.

ConocoPhillips, Shell and ExxonMobil are in the running for the multibillion-dollar project.

Record oil revenues have fueled economic expansion and boosted demand for gas from the power sector and from heavy industry in the United Arab Emirates, reuters said.

Abu Dhabi's national oil company had been expected to name a partner at the field by the end of 2007.