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John Benny


Articles

Oil rig pumpjacks near Long Beach, California. Prices fell after weaker-than-expected job figures in the US, which sparked concerns about a potential recession that have since abated. Reuters
Oil gains amid Middle East tensions and easing of US recession fears

Crude futures volatile as traders brace for Iran’s retaliation against Israel

EnergyAugust 09, 2024
John Benny
An oil refinery in Zawia, 55km west of Tripoli. Oil prices have fluctuated in recent days as traders evaluate the possibility of a full-blown conflict in the Middle East. Reuters
Oil prices dip amid Middle East tension and partial shutdown at Libyan oilfield

The Sharara field had been producing 270,000 barrels per day before the shutdown

EnergyAugust 06, 2024
John Benny
Adnoc Drilling is the largest national drilling company in the Middle East by rig fleet size. Photo: Adnoc
Adnoc Drilling hopes to secure oil drilling tenders in Kuwait after key approval

Kuwait will be Adnoc Drilling’s second market outside of the UAE, following Jordan

EnergyAugust 05, 2024
John Benny
Stock market indexes on display at the New York Stock Exchange. Getty Images
Oil prices slide more than 1% amid US recession concerns

Global stocks have tumbled since a jobs report last week heightened fears of a recession in the world’s largest economy

EnergyAugust 05, 2024
John Benny
The funeral ceremony of Hamas leader Ismail Haniyeh in Tehran. Iran has threatened to retaliate, which could affect oil supply. AP
Oil slides more than 3% to 7-month low on weak economic data

The US reported weak job numbers as Wall Street declined, stoking fears of a new recession, and global manufacturing activity softened

EnergyAugust 02, 2024
John Benny
People walk in front of a large screen showing stock exchange data, in Shanghai, China EPA
Tech focus and diversification drive investments by Middle East wealth funds in China

About $2.3bn of sovereign capital from the region reportedly flowed into the greater Chinese market last year

BusinessAugust 02, 2024
John Benny
A farm in Al Ain, UAE. China has reduced its export volumes of agricultural fertiliser. Photo: Fertiglobe
Fertiglobe expects to benefit from cut in Chinese exports of key fertiliser

UAE company is absorbing a 'record' amount of urea production, chief executive says

EnergyAugust 01, 2024
John Benny
In June, the producer alliance agreed to extend output cuts of 3.66 million barrels per day. Reuters
Opec+ sticks to output policy amid continued volatility

The group says unwinding of voluntary production cuts could be ‘paused or reversed’

EnergyAugust 01, 2024
John Benny
The two companies said they conducted a 'successful test flight' during the Cop28 climate conference in December. Photo: Masdar
Masdar and TotalEnergies to explore sustainable aviation fuel project

Joint venture plans to capture carbon dioxide from an industrial source and use it, along with green hydrogen, to produce the fuel

EnergyAugust 01, 2024
John Benny
An Enoc petrol station in Dubai. The cost of fuel will increase in August. Razan Alzayani / The National
UAE petrol and diesel prices to rise in August

Motorists in the Emirates will pay more at the pump next month

EnergyJuly 31, 2024
John Benny
An oil pump jack in Stanton, Texas. Crude oil prices rose on Wednesday amid concerns that the Israel-Gaza war could turn into a regional conflict. AFP
Oil prices rise on geopolitical risk after killing of Hamas leader in Tehran

Crude rose for the first time in four trading sessions but still set for the biggest monthly drop so far this year

EnergyJuly 31, 2024
Sarmad Khan
Sohar port. The company manages the port in northern Oman in partnership with the Port of Rotterdam. Alamy
Asyad Group says Red Sea risks must be balanced with growth strategies

The Oman Investment Authority subsidiary is pushing to acquire stakes in ports and logistics hubs in East Africa, the Far East and India

EconomyJuly 29, 2024
John Benny
Kite Surf Beach in Dubai, with the city's skyline in the backdrop. Chris Whiteoak / The National
Dubai attracts record 9.31m international visitors in first half of 2024

The emirate is 'on track' for a record performance as the number of tourists climbs 9 per cent in the first six months of this year

EconomyJuly 28, 2024
John Benny
Morocco's Fnideq border crossing with the Spanish enclave of Ceuta. Morocco's GDP is projected to grow by 3.5 per cent this year. AFP
UAE and Morocco finalise trade and investment agreement

The agreement will create platforms for investment and private-sector collaboration in vital sectors

EconomyJuly 28, 2024
John Benny
The Borouge 4 plant, which is still under construction, in Abu Dhabi. Pawan Singh / The National
ExclusiveBorouge unfazed by China slowdown as it unveils plans for new plant

Chemicals maker is interested in linking up with the right partners in the Asian country, its chief executive says

EnergyJuly 24, 2024
John Benny
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