Petrasco: changing to meet needs
It is said that change is the only constant and, while the pace of new developments and behaviours in the oil and gas industry is sometimes bemoaned, the sector continues to take important steps towards the upturn.
Dubai
Petrasco signs six-figure deal with Flowline in Dubai
Energy logistics firm Petrasco has signed a six-figure deal with Aberdeenshire-based Flowline Specialists for work in the Middle East.
Want free parking? Drive an electric car in Dubai
Dubai, with its 14-lane highways and car-dependent residents, will provide free parking and toll-free driving to encourage motorists to shift to electric cars as a way of cutting carbon emissions in the oil-rich United Arab Emirates.
UAE needs Qatari gas to keep Dubai’s lights on
When it comes to natural gas shipments, the United Arab Emirates needs Qatar more than Qatar needs the U.A.E.
Opinion: Innovation in Dubai − How solar became the city’s next record-breaker
Dubai is a city with ambition and a reputation for breaking records. While the United Arab Emirates (UAE) has become synonymous with oil, much of Dubai’s growth has, in fact, been driven by large investments in construction and real estate. The city built the world's largest artificial islands, the world’s tallest hotel and recently announced plans to build a new tower in Dubai to surpass the world's current tallest building. It has even announced plans to construct the world’s first 3-D printed building. With this in mind, it’s perhaps no surprise that when Dubai turned its attention to the renewables sector, its ambitions were never going to be modest.
Gloss comes off Dubai as oil woes spill into expat promised land
Kier Riemersma and his wife sat down a few months ago to make a difficult decision. The American couple, who lived in Dubai for over a decade, would wind down his real estate business and move back home to Denver, Colorado.
UAE stocks lead mideast slump as banks post decline in profit
Equity markets in the United Arab Emirates extended declines on speculation recent gains were overdone after earnings fell at some of the country’s biggest banks.
Oil slump fails to deter Dubai developers
If you thought declining home prices and rents would damp Dubai developers’ appetite for new projects, think again.
Opito appoints new MD to its international business
Opito has appointed a new managing director as it looks to continue growth in its expanding international business. Graham Gall will take up the role moving from his former position as the managing director of Falck Safety Services in Brazil.
Polarcus gets backing from lenders for debt restructuring
Seismic survey specialist Polarcus has received support from lenders for its proposed debt restructuring.
AFC Energy focussed on the future with its fuel cell technology
A British company's revolutionary alkaline fuel system that is commercialising technology first developed in the 19th century is set to commission a pilot project that could launch it into the big league of clean energy producers.
Dubai stocks drop to lowest in two months as oil rout deepens
Dubai stocks declined to the weakest level since January as Brent crude extended its slide on speculation that record U.S. supply may start to strain the country’s storage capacity. The DFM General Index retreated 1.4% to 3,563.95 at 12: 22 p.m. local time, the lowest since January 7. The index has decreased 3.9% in two days, dragging its 14-day relative strength index to 27, the weakest in three months, from 38 on Thursday. A Level below 30 indicates to some analyst the equities have fallen too far.
Dubai stocks rise most in six weeks on oil; Saudi jumps on payout
Dubai stocks advanced the most in six weeks after oil rallied on signs a price slump will curb output. Saudi Arabia’s benchmark index rose after King Salman ordered bonuses of two months’ salary to be paid to government workers. The DFM General Index added 4.5%, the most since December 21, to close at 3,840.22. Abu Dhabi’s ADX General Index climbed 2.2%, its first increase in five days, and Qatar’s QE Index gained 1.4%, the strongest close since January 8.