Abu Dhabi / WAM Awaidha Murshed Al Marar, Chairman of the Department of Energy, stated that Abu Dhabi has managed to achieve a radical transformation in its production and consumption of energy and has drafted a new renewable energy strategy, enabling it to occupy a prominent international position in this area and become the clean energy capital of the Middle ...

Abu Dhabi / WAM Maqta Gateway, a wholly owned subsidiary of Abu Dhabi Ports, has signed a co-operation agreement in China with LOGINK, the national logistics platform operated by the Chinese Ministry of Transport. Dr Noura Al Dhaheri, General Manager of Maqta Gateway, and Guo Jianbiao, Director-General of LOGINK, signed the MoU in Hangzhou, China, on the sidelines of a ...

Dubai / WAM Attracting participants from five continents and 33 countries, with bidders spanning the whole Middle East, Sotheby’s Dubai inaugural auction took in over three million Dollars this week, with 30 percent of the bids coming from the UAE. Edward Gibbs, Sotheby’s Chairman for Middle East, said, “The strong sale result is testament to the exciting evolution of UAE market ...

Abu Dhabi / WAM Eagle Hills Abu Dhabi has recently awarded the construction and infrastructure works contract for the entire 63,677 square metre site of The Address Fujairah Resort and Spa to Joannou and Paraskevaides, J&P. The Abu Dhabi-based private real estate investment and development company made the announcement during an official signing ceremony that marked the groundbreaking of the ...

Bloomberg Fifteen days from now, nations that pump more than half the world’s oil gather in Vienna to discuss extending the production cuts that helped lift prices to two-year highs. The outcome is far from certain. Russia, which alongside Saudi Arabia was the architect of the historic cooperation between crude producers, is said to be unconvinced that a decision is ...

Bloomberg Egypt will stop importing liquefied natural gas in 2018 and may eventually export gas after it starts producing this year at the giant Eni SpA-operated Zohr field off the country’s Mediterranean coast, Oil Minister Tarek El-Molla said. Zohr’s output will mostly supply the domestic market, and the nation’s two existing gas-liquefaction facilities are large enough to process any available ...

Bloomberg The world’s biggest oil buyer may be waking up from a seasonal slumber. China added 37 million barrels of oil to inventories in the first nine days of November, a rebound from September and October, when stockpiles fell by more than 120 million barrels, according to commodities intelligence firm Orbital Insight Inc. The drawdown coincided with China in October ...

Bloomberg Egypt is in talks with Saudi Arabian Oil Co. to import crude oil and refine it domestically, giving the North African country more control over its own gasoline and diesel supplies. A deal could be made early next year, Egypt’s Oil Minister Tarek El-Molla said in an interview. Saudi Arabia has been shipping about 700,000 metric tons a month ...

Bloomberg The man overseeing western Europe’s biggest crude spigot is fighting back against the oil doubters. Norway’s push into the Arctic, necessary to prolong the nation’s more than four decades of petroleum production, is running into a multi-pronged attack with claims that projects will be unprofitable and an unprecedented lawsuit targeting the government. “There are many forces who are using ...

Bloomberg For years, smaller nations in Asia have looked to the US to provide a counterweight to an increasingly powerful China. Under President Donald Trump, they are learning to fend for themselves. Trump declared his 12-day swing through Asia a success before heading home, saying that “all Countries dealing with us on TRADE know that the rules have changed.” On ...