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| A comprehensive guide
to current and future events and exhibitions in the UAE |
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Valuable concise reference source on the UAE,
covering political system, economy, business, history and heritage,
education, women, healthcare, tourism and environment. |
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Natural history of the UAE,
covering all animals and plants recorded in the Emirates. |
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Report by National US Arab Chamber of Commerce on the UAE. Vol XV, No 3, June 2007. Includes analysis of UAE economy. |
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THE ECONOMY - OIL AND GAS
![]() Helicopter crash in Gulf Sea
Posted on 05/09/2008
The B212 helicopter carrying 7 persons crashed in Gulf sea Wednesday at 20:23 local time, on 50 NM west of Dubai Airport, killing all passengers and crew. Those killed in tragic crash included American, British, two Indians, Pakistani, one Pilipino and Venezuelan. The helicopter was flying from Dubai International Airport to one of Oil fields in the Gulf Sea. An investigation is currently being conducted to determine the causes of the accident. Emirates News Agency, WAM
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![]() ADNOC announces retrospective oil prices
Posted on 04/09/2008
The Abu Dhabi National Oil Company (ADNOC) today announced the retrospective prices for August 2008, for Abu Dhabi's four main grades of crude oil.
The price for the onshore Murban crude was set at USD 117.50 per barrel, while prices for the three offshore crudes were set at USD 117.40 for Lower Zakum, USD 116.50 for Umm Shaif and USD 112.30 for Upper Zakum. Emirates News Agency, WAM
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 Mubadala, Petrofac establish new joint venture
Posted on 02/09/2008
Petrofac Limited, the international oil '&' gas facilities service provider, and Mubadala Petroleum Services Company LLC (MPSC), a wholly owned subsidiary of Mubadala Development Company, announced yesterday their plans to establish a joint venture company, Petrofac Emirates LLC.
Based in Abu Dhabi and scheduled to begin operation within the next few months, the new company will provide a full range of engineering, design, procurement and construction services for onshore oil and gas,
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 ADNOC-FOD in new drive to solve congestion at filling stations
Posted on 28/08/2008
The Abu Dhabi National Oil Company for Distribution (Adnoc-Fod) asserted yesterday that it has started to implement a set of new standards in an effort to ease up congestion at its diesel filling stations.
In a statement, the Company said that it is working with all seriousness to contain all the problems related to diesel and make it available to the customers. The additional demand for diesel in the country brought about by the economic boom has resulted in congestion at the filling stations
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 Dubai diesel prices will fall further
Posted on 28/08/2008
Dubai oil retailers - Emirates National Oil Company (Enoc), Emirates Petroleum Products Company (Eppco) and Emarat - will further slash diesel prices at the pumps by 50 fils a gallon effective September 1, marking their sixth straight cut in prices in a little more than a month, oil company sources told Gulf News yesterday. "The price of diesel will be cut to Dh16.25 per gallon from Dh16.75 per gallon from Monday," a spokes-man for Enoc and Eppco confirmed the news on behalf of the two
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 UAE second largest Arab gas consumer
Posted on 27/08/2008
High economic growth has combined with a rapid population increase and ongoing plans to switch to gas in power generation have turned the UAE into the second largest gas consumer in the Arab world, according to the official data.
Gas demand in the UAE due to the increased consumption has grown by more than seven per cent since 2003 to peak at 620,000 barrels of oil equivalent per day (boe/d) in 2007 compared with 480,000 boe/d in 2003.
The figures by the Organisation of Arab Petroleum
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![]() Adnoc to develop small reservoirs
Posted on 27/08/2008
In an effort to boost its oil production by up to 25 per cent in the next several years, the offshore arm of the Abu Dhabi National Oil Company (Adnoc) is working to develop a new class of slightly smaller reservoirs. "We are going to the second-size fields to increase the production, said Ali Rashid al Jarwan, the general manager of the Abu Dhabi Marine Operating Company (Adma-Opco), which produces up to 600,000 barrels of oil per day (bpd).
Mr Jarwan described the fields as big by
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 Dubai diesel retailers slash price
Posted on 25/08/2008
Dubai oil retailers - Emirates National Oil Company (Enoc), Emirates Petroleum Products Company (Eppco) and Emarat - slashed the price of diesel at the pumps by 50 fils a gallon yesterday, marking their fifth straight cut in less than a month, sources said. "The price of diesel has come down to Dh16.75 a gallon, from Dh17.25 a gallon, effective immediately," an oil company source told Gulf News. Pump attendants at Dubai's oil filling stations confirmed the news. Gulf News
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 IPIC signs MoU with two partners to build fertilizer complex in Uzbekistan
Posted on 21/08/2008
Abu Dhabi government owned-International Petroleum Investment Company (IPIC) of Abu Dhabi and Borealis signed a Memorandum of Understanding (MoU) with Uzbekistan's State Joint-Stock Company (Uzkimyosanoat) to conduct a feasibility study for the construction of a world-scale Fertilizer complex in Uzbekistan.
State Joint-Stock Company Uzkimyosanoat consists of 12 chemical plants, 13 distributing companies, two engineering and scientific research institutes and a logistics company. Borealis is
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 ENOC to enhance customer service
Posted on 20/08/2008
Cylingas, a subsidiary of ENOC, has launched a productivity programme aimed at providing enhanced services to customers. As part of the programme, Cylingas invested in a Dhs6m Electronic Synchronised Full Hydraulic Rolling machine to double the rolling/forming of steel plates towards increasing of production capacity from 3,250 tons per year to 6,500 tons per year. Inaugurated by Saeed Khoory, ENOC Group Chief Executive, the machine comprises 'MCB 3070' four rolls 3000mm x 70mm with 'HP
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 Dana Gas profit surges 17% in Q2
Posted on 18/08/2008
A surge in its oil and gas revenue boosted the net profit of Dana Gas by nearly 17 per cent in the second quarter of 2008 and the company expects further growth through the year.
Net earnings grew to around Dh34 million in the second quarter from nearly Dh29m in the same period of last year, an increase of 17 per cent, Dana Gas said in a statement yesterday.
Revenue from oil and gas production surged by 28 per cent to Dh309m while EBITDA (Earnings before Interest, Depreciation and Depletion
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 Dubai to cut diesel prices again
Posted on 18/08/2008
Dubai oil retailers - Emirates National Oil Company (Enoc), Emirates Petroleum Products Company (Eppco) and Emarat will cut the diesel price at the pump by 50 fils a gallon as of today, marking their fourth cut in prices in less than a month, company sources told Gulf News on Sunday.
"The price of diesel at Dubai's pumps will come down to Dh17.25 a gallon from Dh17.75 a gallon from midnight," said one of the sources.
Gulf News last week reported the extent of the cut being planned by the oil
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 Abu Dhabi could develop offshore sour gas field
Posted on 17/08/2008
Abu Dhabi Gas Industries Co (Gasco) is studying the development of an offshore sour gas field and is unlikely to involve foreign firms in early planning, the Middle East Economic Digest (MEED) reported.
Gasco, a unit of Abu Dhabi National Oil Co (Adnoc), is conducting its own study on the potential for the offshore Hail sour gas field, the magazine reported on Friday.
"This is early work but no international contractors are being canvassed, which suggest the initial engineering and design
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 Dubai retailers slash diesel price by 50 fils
Posted on 13/08/2008
Emirates National Oil Company (Enoc), Emirates Petroleum Products Company (Eppco) and Emarat - have slashed the retail price of diesel again at the pumps by 50 fils a gallon, in line with the falling global crude and oil product prices, oil company sources told Gulf News on Tuesday. "The new diesel price is Dh17.75 per gallon. The fuel's price reflects the downward trend in international oil prices," said one of the sources.
Spokesmen for oil companies were unavailable for comment when reached
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 Self service at 10 ENOC stations from today
Posted on 12/08/2008
Motorists will have to fill petrol and diesel on their own at 10 ENOC (Emirates National Oil Company) stations in Dubai and the Northern Emirates from Tuesday. According to Khalid Hadi, ENOC Group brand and marketing manager, this self-service is a pilot project being started following the global trend. "In the US and Europe, all use the self-service method. Now we want to test the reaction across the UAE."
Asked why the project is being launched in the summer, Hadi said this is the best time
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