Tourism UAE announces new visa for GCC in tourism push The UAE minister of economy has announced plans for a new visa to allow travel within the GCC countries, in a bid to boost local and regional tourism. The GCC visa being considered will allow those residing in the bloc to travel easily among the six members states – the UAE, Saudi Arabia, Qatar, Bahrain, […] September 27, 2023
Analysis Markets Strong demand for Oman’s biggest IPO in two decades Oman’s joint-biggest initial public offering is attracting huge interest among retail investors, despite subdued recent activity on Muscat’s bourse, a senior financial industry executive told AGBI. OQ Gas Network (OQGN), a subsidiary of national oil company OQ, will sell 49 percent – or 2.12 billion – of its shares in an IPO. The company this […] September 22, 2023
Oil & Gas $100 a barrel oil raises global inflation fears Oil has risen to its highest level since November, reigniting fears over inflationary pressures on the global economy as it approaches $100 a barrel. Brent crude hit $95 barrel this week, before reducing gains, as the extension of Opec+ supply cuts tightened the markets. In a sign of a massive uptick in the energy markets, […] September 20, 2023
Oil & Gas Opec pours cold water on IEA’s ‘peak’ for oil demand Opec, the group of oil-producing countries, has taken issue with assumptions by the International Energy Agency that demand for fossil fuels would peak before 2030, saying they present a danger to economies and billions of people. “Such narratives only set the global energy system up to fail spectacularly. It would lead to energy chaos on […] September 15, 2023
Energy LNG exporters to benefit from Australian strike Strike action by Australian liquefied natural gas (LNG) workers will offer rival producers in the Gulf the opportunity to gain long-term market share, especially in Asia and Europe, as pressure is put on already tight global supplies. Hundreds of workers at Chevron’s Wheatstone and Gorgon LNG facilities in western Australia downed tools on Friday after […] September 14, 2023
Energy Libya reopens oil ports after hurricane and flooding fears Libya’s four main oil export terminals reopened on Tuesday after being forced to close last week as a result of a hurricane and floods in eastern parts of the country, according to news agencies. The ports of Brega, Es Sider, Ras Lamuf and Zueitina had been closed since September 9 as a precautionary measure. Libya’s […] September 12, 2023
Sustainability UAE to train climate diplomats of the future Abu Dhabi has launched a research initiative aimed at preparing regional leaders for diplomatic discussions about climate change, as the UAE prepares to host the Cop28 summit in late November. The Centre for Climate Diplomacy at the Anwar Gargash Diplomatic Academy (AGDA), established in partnership with the national oil company Adnoc and Abu Dhabi sovereign […] September 12, 2023
Energy Italy’s Eni commits $8bn to Egypt’s energy sector Italian oil and gas company Eni plans to invest almost $7.7 billion in Egypt over the next four years, according to Egyptian presidential spokesman Ahmad Fahmi. The announcement was made after Egypt’s President Abdel Fattah El Sisi met with Eni CEO Claudio Descalzi on Sunday. The meeting was also attended by Egypt’s minister of petroleum […] September 5, 2023
Oil & Gas Oman plans IPO of gas transport operator Oman’s natural gas transportation network operator OQ Gas Networks (OQGN) is planning to sell up to 49 percent of its share capital through an IPO. The subscription, subject to regulatory approvals from the sultanate’s Capital Market Authority, will commence this month and be open to all qualified investors. The listing on the Muscat Securities Market […] September 4, 2023
