GCC’s Billion Dollar Petrochemical Prospects Discussed by SAS-AIChE Chairman

Manama: The GCC petrochemical capacity is estimated to increase from 77.3 Million Tonnes Per Annum (MTPA) to 113 MTPA at the end of 2015 according to the Gulf Petrochemical ‘&’ Chemicals Association (GPCA), with both long and short term opportunities. SAS-AIChE Chairman, Mr Abdulmohsen Al Majnouni recently spoke to The World Refining Association explaining how to capitalise on these opportunities whilst highlighting the vulnerabilities of this sector. The petrochemical industry…

OPEC daily basket price stood at $112.20 a barrel

Vienna: The price of OPEC basket of twelve crudes stood at 112.20 dollars a barrel on Wednesday, compared with $112.28 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar),…

Emirates CMS Power Company becomes the first UAE-based firm meeting global VCS

Dubai: Emirates CMS Power Company (ECPC), a combined cycle power and desalination plant operating in Al Taweelah wholly-owned by the Abu Dhabi Water and Electricity Authority, has received 36,436 VCUs to date in certificates – currently trading at over $13 each – to sell on the open market. ECPC became the first UAE-based company to be registered as meeting global Verified Carbon Standard criteria, receiving Carbon Credits to help fund…

Senegalese ambassador presents credentials

ABU DHABI: Ambassador of Senegal to the UAE Babakr Bah has presented his credentials on Sunday to Undersecretary of the Foreign Ministry Juma Mubarak Al-Junaibi. At the meeting, the ambassador expressed gladness at representing his country to the UAE which he said enjoys an outstanding regional and international stature under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan. For his part, the UAE senior official expressed…

Lubna, Al Tayer to attend Forbes Global CEO Conference in Dubai

Dubai: Sheikha Lubna Al Qasimi, Minister of Foreign Trade, Obaid Humaid Al Tayer, State Minister for Financial Affairs and over 45 businesspersons will attend the 12th Forbes Global CEO Conference, which will be held in Dubai from Oct. 21- 23 under patronage of host sponsor Government of Dubai in association with Falcon ‘&’ Associates. Ahmed Al Sheikh, Director General of the Dubai Government Media Office and Chairman of Falcon ‘&’…

MD and CEO of DEWA inspects construction works at new green building in Al Quoz

Dubai: Saeed Mohammed Al Tayer, CEO and MD, Dubai Electricity and Water Authority (DEWA), inspected the construction works on the new green building in Al Quoz. This is Dubai’s first government building built according to the highest green building standards and is dedicated for the water and civil division at DEWA. During his visit, Al Tayer was accompanied by Abdullah Obaidullah, Executive Vice President, Water and Civil Division, at DEWA,…

DM completes Dubai Map and 360 degree Panorama projects

Dubai: The Geographic Information Systems Department at Dubai Municipality announced the successful completion of Dubai Map and 360 degree Panorama projects. Abdul Hakim Malik, Director of GIS said that the launch of these projects is aimed to provide integrated geographic information of the Emirate of Dubai and to enable everyone to benefit from them in various fields. “Dubai Map project is an aerial photography project acquiring high quality colour digital…

Aldar reports financial results for second quarter of 2012

Abu Dabi: Aldar Properties PJSC (“the Company”), Abu Dhabi’s leading property development investment and management company, is pleased to announce today strong financial results for the second quarter of 2012 with revenue for the period increasing 497% to AED 4,631.2 million (Q2 2011: AED 775.7 million) and net profit of AED 417.9 million up 228% from AED 127.3 million during the same period last year. Revenues were driven by the…