19th May, 2013, 23:21
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Posted: 10-08-2011
INTERNATIONAL. Saudi Arabia pumped the most oil in three decades last month, reaching 9.8 million barrels a day and boosting OPEC production, the International Energy Agency said. Increased output in Angola helped replace lower supply in Libya.
Daily supply from the 11 Organization of Petroleum Exporting Countries members bound by quotas rose to 27.37 million barrels a day in July from 27.22 million in June, the Paris-based IEA said today in its monthly oil market report.
“Output has regained levels close to those seen before the Libyan crisis, although OPEC spare capacity now stands at
Posted: May 17, 2013
UAE. Saudi Arabia's SABIC clinched the number one spot with net profits of US$6.6 billion and US$90.2 billion in total assets; Qatari companies top the banking, industrials, insurance, transport and retail sectors; The real estate sector is back on track.
Posted: May 17, 2013
UAE. New alliance to explore potential development of US$1.5 billion in carbon capture, renewable energy, desalination and cleantech venture capital projects.
Posted: May 16, 2013
UAE. MoU will explore finance opportunities of up to US$2 billion in U.S. renewable-energy products and services that Masdar will implement across global markets.
Posted: May 16, 2013
Forbes Middle East rankings are based on the quality of standards set globally by Forbes Media, U.S.
Posted: May 15, 2013
UAE. The awards evening was a inspirational gathering, stirring budding entrepreneurs to aspire to brilliance and well-established businesses to expand their horizons, collaborate with the best in the region, and win.
Posted: May 15, 2013
UAE. IPIC's Khalifa Abdulla Al Romaithi assumes post from ENOC's Saeed Abdulla Khoory
Posted: May 14, 2013
INTERNATIONAL. North America will provide 40% of new supplies to 2018 through the development of light, tight oil and oil sands, while the contribution from OPEC will slip to 30%.
Posted: May 14, 2013
KUWAIT. OPEC held its forecast for growth in world demand unchanged at 0.80 million bpd, and repeated a warning that the rate of oil consumption could underperform.
Posted: May 14, 2013
INTERNATIONAL. The Kuwait Investment Office, Borealis Infrastructure Management Inc. and Universities Superannuation Scheme have approached the utility regarding a possible bid.
Posted: May 14, 2013
UAE. Breakthrough innovations offer scope for new applications and devices in desalination, clean energy and healthcare.
Posted: May 13, 2013
SAUDI ARABIA. "If oil discovery in one single Saudi well had changed the world map, then why can't modern-day technologies change the course of the oil industry in seven years to extract the shale oil?"
Posted: May 11, 2013
LEBANON. The latest advances in sustainable energy research were discussed at the Fourth Annual International Masri Institute Workshop on Energy and Natural Resources, held at the American University of Beirut.
Posted: May 10, 2013
SAUDI ARABIA. New supplies are welcome. They will add depth and, I hope, greater stability to world markets," Saudi Oil Minister Ali Al-Naimi said.
Posted: May 10, 2013
QATAR. The Qatari government's strong net asset position balances the concentration risk related to the economy's reliance on oil and gas.
Posted: May 10, 2013
TUNISIA. Agreements, amounting to 22.9 million euros, relating to the North Gafsa integrated development project (PDAI) and to the support and establishment of the e-government and open-government.
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RedditMIDDLE EAST BUSINESS COMMENT & ANALYSIS
date:Posted: May 18, 2013
UAE. "The general trading atmosphere is sufficiently negative for gold to enable sellers to have a firm grip on the market. However, I fail to see how the rally in the stock markets can be put into any sensible relation to the economic plight of the underlying countries."
date:Posted: May 17, 2013
EGYPT. The Egyptian government has taken tentative steps towards reducing the roughly US$20 billion subsidy system that supporters say provides vital aid to the one-in-four Egyptians in poverty, and critics say is unsustainable and enriches the corrupt.
date:Posted: May 17, 2013
UAE. Red Hat's Mark Little and Tom Llewellyn explain how Large-scale Elastic Architecture for Data-as-a-Service (LEADS) will enable enterprises to leverage all of the public data on the web against privately held data.
INTERNATIONAL. Bahrain has maintained its position as a key insurance hub and continues to post growth in its insurance market despite a prolonged period of political turbulence.
INTERNATIONAL. Nothing new is coming online anytime soon and movement on developing renewable energy resources has been sadly inadequate. The idea that shale reservoirs will lead the US to energy independence will soon enough be recognized as unrealistic hype.
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