ABU DHABI / WAM Collaboration between the United States and the Organisation of the Petroleum Exporting Countries (Opec), is “not on the cards,” according to Francis R. Fannon, US Assistant Secretary for the Bureau of Energy Resources at the US Department of State. In an interview with Emirates News Agency (WAM), Fannon said the “US presence on the energy market ...

ABU DHABI / WAM Aldar Properties on Tuesday reported a 14 percent year-on-year increase in gross profit to AED662 million in the third quarter of 2019. Also, the company’s revenue increased seven percent to AED1.60 billion compared to AED1.50 billion in Q3 2018. Development management recorded 20 percent growth in revenue to AED642 million, off-plan development sales increased 272 percent ...

DUBAI / WAM Dubai Mercantile Exchange (DME), the international energy futures exchange in the Middle East, on Tuesday announced a 21 percent increase year-on-year in exchange trading activities, along with 172 percent increase in forward curve trading, following Saudi Aramco’s adoption of DME Oman in its official selling price in October 2018. In 2019, DME registered an average daily volume ...