August, 2022

• 20 August

  Safeen Marine Services marks 5m man-hours safety milestone

  

    Abu Dhabi / Gulf Time Safeen Marine Services, part of AD Ports group’s maritime cluster, announced on Friday it has marked more than five million man-hours with zero lost time injuries (LTI) and zero environmental incidents since its launch in 2012. Operating in nine commercial ports in the UAE and the Middle East, Safeen Marine Services extends HSE policy ...

  Read More »
• 20 August

  Fujairah named safest place in Numbeo’s ‘Safety Index by City’

  

    Abu Dhabi / WAM The emirate of Fujairah was ranked first in the “Safety Index by City” compiled by Numbeo, which provides regular statistics on economic, social and safety areas worldwide. Fujairah received a score of over 93 percent, outperforming 466 international cities, which is attributed to its high living standards and the significant support of His Highness Sheikh ...

  Read More »
• 20 August

  Premiums of listed insurance firms in UAE reach AED15.6bn

  

    Abu Dhabi / WAM The total premiums of insurance companies listed in local financial markets in the first half of 2022 increased by 7.64% year-on-year, equivalent to AED1.11 billion, while their net profits totalled AED817.8 million. According to the disclosure reports of 28 national insurance companies, the total value of premiums increased from AED14.563 billion in the first half ...

  Read More »
• 20 August

  Dewa develops proactive solutions to increase efficiency, says Al Tayer

  

    Dubai / WAM Dubai Electricity and Water Authority (Dewa)’s Asset Health Centre consolidates preventive and proactive maintenance in the water network through gathering and analysing data and providing needed recommendations to enhance the health and life cycle of assets (pumps, engines, pipes, water reservoirs and others). It also forecasts defects using artificial intelligence and machine learning algorithms. Dewa uses ...

  Read More »
• 20 August

  PetroChina considers spinoff of energy marketing business

  

  Bloomberg PetroChina Co, the country’s biggest oil and gas producer, is weighing a plan to carve out its marketing and trading business and seek a separate listing, people with knowledge of the matter said. China National Petroleum Corp (CNPC), the state-owned parent of PetroChina, has asked external consultants to provide proposals on the feasibility of such a plan, said the ...

  Read More »
• 20 August

  Germany’s Uniper suffers $12.2 billion hit in energy shock

  

    Bloomberg Uniper SE reported a loss of more than 12 billion euros ($12.2 billion), ranking among the biggest in German corporate history and laying bare the unprecedented crisis engulfing Europe’s energy markets. The size of the hit for the utility, which last month received a government bailout, shows just how severe the situation is as the European Union braces ...

  Read More »
• 20 August

  Russia’s Sakhalin-2 LNG plant asks its buyers to pay Gazprombank

  

  Bloomberg Russia has asked buyers from its Sakhalin-2 LNG plant to pay Gazprombank JSC, throwing customers including Japan and South Korea into a dilemma over sanctions that threaten shipments. Sakhalin Energy LLC, the new operator, sent settlement instructions to customers for paying in US dollars to Gazprombank, according to documents seen by Bloomberg. Gazprom PJSC owns just over 50% of ...

  Read More »
• 20 August

  BP is exiting its Mexican oil assets

    Bloomberg BP Plc is seeking to get rid of its oil assets in Mexico amid a shift in its business strategy towards renewable energy and a challenging political climate in the energy sector in the country. Since winning three exploration contracts in partnerships with France’s TotalEnergies, Equinor ASA, Qatar Petroleum and Hokchi Energy six years ago, BP has sold ...

  Read More »
• 20 August

  Germany proposes cooler office temperatures to save gas

  

    Bloomberg Germany is proposing additional energy-saving measures as Chancellor Olaf Scholz’s government seeks to reduce the country’s dependence on Russian natural gas supplies. The Economy Ministry suggested reducing the minimum temperature in offices — in both the public and private sectors — to be lowered to 19 degrees Celsius (66 Fahrenheit) as it seeks to cut gas consumption by ...

  Read More »
• 20 August

  Can Hong Kong repair its battered image?

  

  In the eyes of Hong Kong’s new leader John Lee, the city has a publicity problem. It has a great story to tell, and just needs to do a better job of showcasing its achievements to the world. “We should not belittle ourselves,” Lee told lawmakers a few days after taking office last month, saying he planned to send delegations ...

  Read More »