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Tag Archives: Oil

Iraq restarts war reparations to Kuwait

Iraqi dictator Saddam Hussain has been dead for more than a decade but Kuwait is still receiving reparations for his 1990 invasion, with the latest tranche of $90 million (Dh330 million) approved on Friday. The payment was the first authorised by the United Nations Compensation Commission since 2014 when there …

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Adnoc Distribution approves Dh735m dividend payment

Shareholders of Adnoc Distribution, the fuel retailing subsidiary of the UAE’s state oil giant, on Sunday approved a Dh735 million (Dh5.88 fils per share) dividend payment, at the company’s first annual general meeting (AGM). The dividend was approved following a report of the company’s performance, which highlighted the significant achievements …

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Mohammad Bin Zayed receives Turkmenistan president

His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, Thursday received Gurbanguly Berdimuhamedow, President of Turkmenistan. During the meeting held at the Presidential Palace, Shaikh Mohammad and Berdimuhamedow held talks on ways to bolster bilateral relations, global developments …

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The rapprochement between India and Israel

By Geoffrey Cook*   The friendly ties between India and Israel are only about twenty years old whereas rapprochement  started haltingly five years earlier in 1992.  They have become most friendly with the rise of the Narendra Modi and his Islamophobic BJP (Bharatiya Janata Party) during 2014. Today their ties …

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Trump-appointed regulators reject plan to rescue coal and nuclear plants

The Federal Energy Regulatory Commission on Monday unanimously rejected a proposal by Energy Secretary Rick Perry that would have propped up nuclear and coal power plants struggling in competitive electricity markets. The independent five-member commission includes four people appointed by President Trump, three of them Republicans. Its decision is binding. At the …

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Maersk Oil, partners to invest $3.4b in North Sea gas

Danish conglomerate AP Moller-Maersk said on Friday it will invest 21 billion kroner ($3.4 billion, Dh12 billion) together with British-Dutch oil producer Shell, among others, to redevelop and extend the production life cycle of Denmark’s largest gasfield in the North Sea. Maersk, whose oil company is being taken over by …

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Saudi Arabia to begin uranium extraction as kingdom seeks self-sufficient nuclear programme

Saudi Arabia plans to extract uranium domestically as part of its nuclear power programme and sees this as a step towards “self-sufficiency” in producing atomic fuel, a senior official said on Monday. Extracting its own uranium also makes sense from an economic point of view, said Hashim bin Abdullah Yamani, head of the Saudi government agency tasked …

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American sanctions: A war strategy

By Sara Safa “International sanctions” is a new term in international politics and a new strategy or political instrument that came more operational in the early 1970’s after US withdrawal from the Vietnam war amid several challenges and a real economic pressure that the US had to face especially after …

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Isis seeks manager for ailing oil plant

THE LEVANT – For one daring and zealous oilman, the jihadists of Islamic State are offering the job opportunity of a lifetime. After a string of fatal accidents at Iraqi oilfields seized by Isis in June, the Islamists are seeking a manager to run their refineries and arrest the slump …

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