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October, 05th 2011
Dubai oilfield to start production this year
Al Jalila oilfield in Dubai is on track to begin operations before the end of this year, a conference was told yesterday. Sheikh Ahmad Bin Saeed Al Maktoum, Chairman of the Supreme Council of Energy, confirmed a government statement issued earlier this year which predicted full-scale commercial production at the field within a year. The statement added that Al Jalila should "notably increase the production of crude in Dubai, whose current oil reserves are about 4 billion barrels." |
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October, 03th 2011
Abu Dhabi oil income up by Dh82bn in 2010
Strong oil prices allied with higher crude output to boost Abu Dhabi’s hydrocarbon income by nearly Dh82 billion in 2010 but the earnings remained far below the record income achieved in 2008, according to government data. From around Dh196.6 billion in 2009, the value of the emirate’s exports of oil, gas and petroleum products soared to nearly Dh278.6bn in 2010, showed the figures published in Abu Dhabi’s yearbook released this week. |
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July, 26th 2011
UAE oil income up 30% in 2010
Higher oil prices allied with an increase in supplies to boost the UAE’s crude export earnings by nearly 30 per cent to around US$74 billion in 2010 while those of OPEC leaped by about US$160 billion, according to official data. |
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April, 10th 2011
Energy at the heart of geopolitical concerns, says Foreign Minister
The world is witnessing a challenging time and energy is at the heart of geopolitical concerns, UAE Foreign Minister H.H. Sheikh Abdullah bin Zayed Al Nahyan said. Addressing the 2nd Clean Energy Ministerial (CEM2) meeting, opened yesterday in Abu Dhabi, Sheikh Abdullah said it was no easy task to secure huge energy resources without economic and social impact. "The business of providing energy to humanity on the multi-Terawatt scale that is needed today is never going to be easy. We need to accept that any energy source on that scale will have economic, social and environmental impacts," he said.
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March, 06th 2011
UAE to start oil exports via Fujairah in mid-year
Abu Dhabi will start pumping the first crude oil by mid-year through a new giant pipeline that will enable it to bypass the strategic Strait of Hormuz waterway by exporting as much as 1.8 million barrels a day via Fujairah, where plans for a grassroots refinery are also regaining momentum, a person close to the situation said.
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January, 21th 2011
Scale of Opportunity High for Renewable Energy Sector
Global investment in renewable energy increased to US$ 243 billion in 2010, up five-fold from 2009 according to Bloomberg New Energy Finance. However, future investment in the renewable energy sector faces challenges from policy development, regulatory frameworks and economic market forces, according to industry leaders at the World Future Energy Summit (WFES) 2011.
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July, 14th 2010
UAE oil income soars by US$12billion in first half
A sharp increase in crude prices lifted UAE’s oil export earnings by nearly US$12 billion (Dh44billion) in the first half of 2010 while OPEC earned more than US$140billion in extra income, official US figures showed on Tuesday. From around US$21billion in the first half of 2009, the UAE’s oil export revenue surged to nearly US$33 billion in the first half of 2010, showed the figures by the Energy Information Administration (EIA) of the US Department of Energy.
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April, 13th 2010
Norway confirms the importance of UAE peaceful nuclear energy
Deputy Petroleum and Energy Minister of Norway, Robin Kass assured his country's desire to establish joint strategic projects with the UAE in the field of renewable energy, development of oil and gas industry to achieve sustainable development. He said in an interview in Oslo on the occasion of the visit of Crown Prince of Norway to the UAE that the UAE has taken a very important step when it decided to generate electrical power from nuclear stations to provide clean and less costly sources to generate energy.
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April, 03th 2010
UAE becomes hub of Middle East base oil trade
The UAE and particularly the ports of Jebel Ali and Sharjah have become the hub of base oil trade in the Middle East, industry insiders told ‘Emirates Business’. The price of base oil in the UAE has also risen in the last one month by about US$45 to US$55 a tonne. Base oil is used in the making of lubricants.
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February, 06th 2010
New oil field discovered in Dubai: reports
A new oil field off the coast of Dubai has recently been discovered, reported local Arabic media. The discovery is a first in many years as the emirate’s dependency on oil’s income dwindled due to decreasing production levels. Sources are quoted to have described the new oil field as “promising” in terms of its production capacity – one that will provide a new income for the emirate. |
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September, 28th 2009
Abu Dhabi oil investments exceed $30 bln in one year: MEED
Abu Dhabi emirate is expected to pump in excess of $30 billion (Dh110 billion) into projects in one year to expand its oil and gas sector within an ongoing development programme in its hydrocarbon industry, MEED said yesterday. |
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July, 08th 2009
UAE oil income to decline 43% in 2009
A sharp decline in crude prices will ally with lower production to cut UAE's oil export earnings by about 43 per cent in 2009, while Opec's revenues could suffer more, said an international energy centre yesterday. |
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June, 14th 2009
UAE has netted $664bn in oil revenues
The Kuwaiti-based OAPEC, which groups the UAE and 10 other Arab oil producers, gave no figures on revenue but at an average price of around $24 since 1965, the UAE has netted a total $664.8 billion (Dh2.43 trillion) from its oil sales. |
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April, 30th 2008
UAE to sign US$10bn gas deal
A long delayed contract to develop big new natural gas reserves will be signed within a week, according to a senior official from the Abu Dhabi National Oil Company (Adnoc). The US$10bn (Dh37bn) Shah gas project, which is key to providing new fuel needed for power plants to meet soaring domestic electricity demand, has been in limbo for eight months. |
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April, 29th 2008
Opec says oil could hit $200
Opec’s president on Monday warned oil prices could hit $200 a barrel and there would be little the cartel could do to help. |
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January, 24th 2008
Abu Dhabi makes international headlines during WFES
The global spotlight is currently on Abu Dhabi with over 200 local and international media attending the World Future Energy Summit (WFES) at the Abu Dhabi National Exhibition Centre (ADNEC) from 21 - 23 January 2008.
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January, 16th 2008
Bush oil price begging is pathetic : Clinton
Democratic White House hopeful Hillary Clinton on Tuesday accused President George W. Bush of "begging" for cuts in oil prices in "pathetic" encounters with Gulf leaders. The former first lady hit out at the US president as he wrapped up a tour of the Middle East, during a 2008 Democratic presidential campaign debate here. |
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January, 08th 2008
Rise in oil prices not decided by supply and demand - Al Hameli
Minister of Energy Mohammed bin Dha'en Al Hameli attributed the current rise in crude oil prices to reasons other than supply and demand and said that the price hike which reached US$100 pb is brought about by speculative elements, investment funds, geopolitical reasons as well as a number of other factors. |
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December, 06th 2007
OPEC to maintain current output
Oil and Energy Ministers of the member states of Organizations of Petroleum Exporting Countries (OPEC) decided on Wednesday to maintain the group's current output of 31.5 mbd. The decision was taken at a behind-the-doors meeting in the UAE Capital City of Abu Dhabi today at the conclusion of OPEC's Ministerial (Extraordinary) 146th Meeting. ''OPEC decided yesterday to leave production unchanged for the time being,'' said a statement issued at the end of the OPEC Conference here. |
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November, 16th 2007
United Arab Emirates and OPEC, new book
The Center for Information Affairs, affiliated to H.H. Deputy Prime Minister’s Office, has published a book entitled, “United Arab Emirates and OPEC”, on the occasion of the participation of President H.H. Sheikh Khalifa Bin Zayed Al Nahyan in the Third OPEC Summit, which is due to take place in Riyadh on 17 and 18 November. |
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