UAE | Egypt Oil & Gas - Part 50
Less Risk of Dragon Oil not Making ENOC Acquisition, Say Experts
Dragon Oil Plc said it agreed to an increased takeover offer by Emirates National Oil Co (ENOC) after the Dubai-based group increased its offer to buy out the company’s minority shareholders. Shares in Dragon Oi...
Saudi, UAE to Switch from Importing to Exporting Motor Fuel
Middle Eastern oil producers Saudi Arabia and the United Arab Emirates will sharply cut or even halt costly gasoline imports next year after ramping up new refining capacities that put them a step closer to becoming e...
Growth, Employment Steady in UAE Despite Oil Price Crunch
Dubai witnessed a 4.5% gross domestic product growth last year, and a 6.5% rise in employment, driven by long term planned infrastructure and the ideal investment environment offered by the emirate, according to an ex...
RWE Shifting Gears to Renewables, with UAE Firm’s Help
United Arab Emirates green energy firm Masdar may invest in renewable energy projects jointly with RWE, Germany’s second-biggest utility, a source familiar with the matter told Reuters on Wednesday. RWE Chief Ex...
UAE Purchases Offshore, Onshore Rigs from Multiple Sources for $543 million
The United Arab Emirates’ National Drilling Company has signed contracts worth $543 million to buy 14 new rigs, state news agency WAM reported on Sunday. One offshore and one onshore rig, worth $203 million, wil...
Irena Finds New Sustainable Home in Masdar City
International Renewable Energy Agency (Irena) has opened new headquarters yesterday (June 3) in Abu Dhabi’s Masdar City. The premises, the UAE’s most sustainable office building, was inaugurated by Sheikh Abdullah bin...
UAE Facing Fiscal Deficit, Mulling IMF Tax Options
The UAE is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with UAE author...
UAE Mulls Remittances Tax in Diversification Drive
A member of the Federal National Council yesterday (Tuesday) proposed that the UAE impose a tax on the billions of dirhams which foreign workers send back to their home countries every year. “The Federal National Coun...
