The United Arab Emirates and Qatar have extended a concession for an offshore oilfield that the two share—but warily, since the UAE is part of a regional blockade against Qatar, led by Saudi Arabia. While both countries acknowledged the concession extension, the Emirates’ Supreme Petroleum Council was quick to state that, first, the concession was not awarded to Qatar petroleum and second, that “There is no commercial or trading relationship being established between the UAE and Qatar by the extension of this concession.” Earlier reports said that Qatar Petroleum has signed the extended concession with the Supreme Petroleum Council, the Emirate state oil company Adnoc, Japanese United Petroleum Development Co Ltd, and the field’s operator, Bunduq Company Limited. The SPC’s reaction suggests that the UAE is worried about giving off the impression that it has dealings with Qatar despite the blockade, even though it is happy enough to continue […]