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John Benny


Articles

SEOUL, REPUBLIC OF KOREA - May 28, 2024: HH Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates (front C), arrives at Seoul Air Base commencing a state visit. Seen with HE Cho Tae-Yul, Minister of Foreign Affairs of the Republic of Korea (center L). ( Ryan Carter / UAE Presidential Court ) ---
Trade deals in focus as UAE President visits China and South Korea

The UAE may pursue a free-trade agreement with China, the world's second-largest economy

EconomyMay 28, 2024
The US Federal Reserve building in Washington. US policymakers are questioning whether the current interest rates are sufficient to curb inflation. Reuters
Oil posts weekly decline on prospect of higher-for-longer US interest rates

US crude stocks, an indicator of fuel demand, increased by 1.8 million barrels in the week ending May 17

EnergyMay 24, 2024
There was also growth in transport and logistics, construction and real estate services. Khushnum Bhandari / The National
UAE’s economy grew by 3.6% in 2023 on non-oil growth

Financial services was the fastest-growing sector last year, expanding 14.3% year-on-year

EconomyMay 23, 2024
Donald Trump announced the US was pulling out of the Iran nuclear deal and that sanctions would be reimposed on Iran in May 2018. Reuters
Trump 'bigger risk to Iranian crude supply than Raisi's death'

International Energy Agency expects Tehran to maintain production at up to 3.3 million barrels per day

EnergyMay 23, 2024
Adnoc Headquarters, Abu Dhabi. Adnoc plans to sell part of its Adnoc Drilling stake to institutional investors for liquidity and capital. Victor Besa / The National
Adnoc plans 5.5% stake sale in drilling subsidiary to raise capital

Increasing the free float is expected to help Adnoc Drilling get into the MSCI Emerging Market Index

EnergyMay 22, 2024
The Afungi LNG Project under construction in February. LNG is seen as a cleaner alternative to other fossil fuels, with many nations hoping to increase its share of their energy mix. Getty Images
Adnoc enters Mozambique with 10% stake in Galp concession

The investment, Adnoc’s first in the African country, complements the company’s efforts to expand its lower-carbon LNG portfolio

EnergyMay 22, 2024
The UAE improved its travel and tourism index score by 4.4 per cent between 2019 and 2024, showing strengths in several key areas, such as business environment, safety, information and communications technology, as well as human resources, the WEF said. Shutterstock
UAE leads Mena region on WEF's travel and tourism index

The Middle East recorded the highest recovery rates in tourist arrivals, surpassing 2019 levels by 20 per cent

EconomyMay 21, 2024
An LNG export complex in Hackberry, Louisiana. The US became the world’s largest LNG exporter last year amid growing demand from Europe. AP
Adnoc makes its first investment in the US

Abu Dhabi company’s agreement with GIP in Texas also secures an option for equity participation in the future expansion of the project

EnergyMay 20, 2024
Qatar's Energy Minister Saad Al Kaabi and TotalEnergies chief executive Patrick Pouyanne at the Qatar Economic Forum in Doha. Bloomberg
Qatar to sign more long-term LNG contracts as demand grows, minister says

TotalEnergies says company will continue to be listed in France while considering a float in the US

EnergyMay 15, 2024
Iraqi oil minister Hayan Abdel Ghani attends licensing rounds for 29 oil and gas exploration blocks in Baghdad. Reuters
Iraq's latest oil bid round will draw China closer, analysts say

Baghdad awarded 13 oil and gas projects on Monday, with 10 of them going to Chinese companies

EnergyMay 15, 2024
Qatar's Finance Minister Ali Al Kuwari, left, listens as his Saudi counterpart Mohammed Al Jadaan speaks at the Qatar Economic Forum in Doha. AFP
Geopolitical tensions cloud Middle East growth prospects, Qatari minister says

Qatar Economic Forum also hears Saudi Arabia has been 'conservative' in its economic projections

EconomyMay 14, 2024
Mubadala Energy has assets and operations in 11 countries, primarily in the Mena region, Russia and South-East Asia. Photo: Mubadala Energy
Mubadala Energy announces 'substantial' offshore gas find in Indonesia

The well's estimated capacity is between 80 million to 100 million standard cubic feet per day, company says

EnergyMay 13, 2024
Adnoc Drilling has been awarded a $1.7 billion contract by parent company Adnoc to provide drilling services. Photo: Adnoc
Adnoc Drilling reports 26% rise in first-quarter profit on offshore gains

Company says dividend expected to increase by at least 10% annually from 2024 to 2028

EnergyMay 13, 2024
China, the top global crude importer, recorded a rise in exports and imports in April, a rebound from a contraction in the preceding month, indicating growing momentum in the world's second-largest economy. Xinhua via AP
Oil falls on prospect of higher-for-longer interest rates

Persistent inflation and a strong dollar could hinder demand from Chinese customers

EnergyMay 10, 2024
An Adnoc Distribution fuel station. The company said its first-quarter profit increased by 2.3 per cent on an annual basis. Photo: Adnoc Distribution
Adnoc Distribution to double EV charging points this year

UAE's largest fuel retailer expects to have 150 to 200 stations by end of 2024

EnergyMay 09, 2024
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