DAVOS / WAM Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Middle East and North Africa Regional Business Council (MENA-RBC) has taken part in a panel discussion titled ‘Going Digital in the Arab World’, highlighting innovative approaches and landmark initiatives being implemented by the UAE and other Arab countries to harness the benefits of the Fourth Industrial Revolution. The …
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Bloomberg Saudi Aramco’s chief executive said the most important tax paid by the state-owned energy giant will fluctuate with the price of oil, a significant move ahead of the company’s initial public offering this year. Adjusting the 20 percent royalty on oil revenue Aramco currently pays would help the kingdom to raise extra money if prices climb. While not unusual …
Read More »Bloomberg US natural gas soothsayers are at a stalemate. Bulls say more arctic air may vault futures above $4 for the first time since 2014. Bears see the February contract expiration and a warm spell dragging them lower. Welcome to the suddenly uncertain world of fuel trading. Eight of 17 traders and analysts surveyed by Bloomberg News predicted prices that …
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BERLIN / Reuters European gas networks can cope with further production cuts at the Dutch Groningen field as the government seeks to limit earthquake risks, a leading pipeline company and gas industry official said in an interview. The Dutch government had said that output at the major European field, which used to provide 53 billion cubic metres (bcm) per year …
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Bloomberg The fracking frenzy in Colorado is spurring a tense faceoff between shale drillers in the region and residents seeking a better handle on the dangers in their own backyards after a killer pipeline explosion last year. Gov. John Hickenlooper ordered a review of oil and natural gas operations after the April blast, which destroyed a home, killed two men …
Read More »DAVOS / WAM Innovation, entrepreneurship and future economies were the main theme of a panel session organised by the UAE during the 2018 World Economic Forum (WEF) in Davos. The sessions aimed to share experiences regarding successful innovation policies and actions that can help address some of the current global innovation challenges. The attendees underlined the fact that innovation and …
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ABU DHABI / WAM The Securities and Commodities Authority (SCA) announced an initiative for launching the region’s first-of-its-kind form of trading in emissions that specifically targets carbon dioxide. The initiative reflects the significant growth in passenger and cargo air traffic in the country, with the UAE ports now considered a main destination for a large number of international air carriers, …
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DAVOS / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, met Federal Councillor Johann N Schneider-Ammann, the Head of the Swiss Federal Department of Economic Affairs, Education and Research, during the World Economic Forum 2018. The meeting, attended by Hessa Essa Buhumaid, Minister of Community Development, and Mariam Hareb Almheiri, Minister of State for Future Food Security, saw discussions …
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Bloomberg Saudi Aramco’s trading unit started swapping the kingdom’s crude oil for products refined in other countries, allowing the company to tap new markets, according to its chief executive officer. The company has supplied crude to refiners in the Mediterranean region and gotten fuel in return, Ibrahim Al-Buainain, chief executive officer of Saudi Aramco Products Trading Co., said by phone. …
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DAVOS / Reuters US Energy Secretary Rick Perry told oil super-powers Russia and Saudi Arabia he believed US shale oil boom would not become a spoiler for oil markets because new production would be absorbed by fast rising global demand. Perry, a former governor of Texas, the heartland of the US shale oil boom, was speaking at a rare joint …
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