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    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt secures $66 mln from EU, AFD to expand wheat storage

    Egypt secures $66 mln from EU, AFD to expand wheat storage

    Agreements signed to establish 4 food factories in Jordan

    Agreements signed to establish 4 food factories in Jordan

    Morocco set to launch potash project: report

    Morocco set to launch potash project: report

    Food Africa and pacprocess MEA to launch in December with an even larger area

    Food Africa and pacprocess MEA to launch in December with an even larger area

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

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      Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

      Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

      International investors keen on entering Saudi market, says minister

      International investors keen on entering Saudi market, says minister

      Egypt aims to enhance contribution of IT sector to GDP: Talaat

      Egypt aims to enhance contribution of IT sector to GDP: Talaat

      Saudi airports witness 42% rise in passengers in first 4 months of 2023

      Saudi airports witness 42% rise in passengers in first 4 months of 2023

      Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

      Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

      Egypt starts implementation of silicon production project in New Alamein

      Egypt starts implementation of silicon production project in New Alamein

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      Oman gears up for its first smart city

      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

      Value of Saudi construction contracts jump 35% to $51.3bn: report

      Value of Saudi construction contracts jump 35% to $51.3bn: report

      Qatar to implement new strategies for real estate development

      Qatar to implement new strategies for real estate development

      Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

      Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

      Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

      Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

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        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Egypt invests $64mln in electricity network development in South Sinai since July 2014

        Egypt invests $64mln in electricity network development in South Sinai since July 2014

        First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

        First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

        Oman’s refinery products output jumps by 44%

        Oman’s refinery products output jumps by 44%

        Iraq agrees to 30% stake in TotalEnergies $27bln energy project

        Iraq agrees to 30% stake in TotalEnergies $27bln energy project

        Oman signs $20bn hydrogen deals

        Oman signs $20bn hydrogen deals

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          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Leisure sector in Qatar stronger after World Cup 2022

          Leisure sector in Qatar stronger after World Cup 2022

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
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          • Agriculture
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          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt secures $66 mln from EU, AFD to expand wheat storage

          Egypt secures $66 mln from EU, AFD to expand wheat storage

          Agreements signed to establish 4 food factories in Jordan

          Agreements signed to establish 4 food factories in Jordan

          Morocco set to launch potash project: report

          Morocco set to launch potash project: report

          Food Africa and pacprocess MEA to launch in December with an even larger area

          Food Africa and pacprocess MEA to launch in December with an even larger area

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
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            • Trade
            • Transport & Logistics
            Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

            Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

            International investors keen on entering Saudi market, says minister

            International investors keen on entering Saudi market, says minister

            Egypt aims to enhance contribution of IT sector to GDP: Talaat

            Egypt aims to enhance contribution of IT sector to GDP: Talaat

            Saudi airports witness 42% rise in passengers in first 4 months of 2023

            Saudi airports witness 42% rise in passengers in first 4 months of 2023

            Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

            Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

            Egypt starts implementation of silicon production project in New Alamein

            Egypt starts implementation of silicon production project in New Alamein

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Value of Saudi construction contracts jump 35% to $51.3bn: report

            Value of Saudi construction contracts jump 35% to $51.3bn: report

            Qatar to implement new strategies for real estate development

            Qatar to implement new strategies for real estate development

            Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

            Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

            Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

            Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Egypt invests $64mln in electricity network development in South Sinai since July 2014

              Egypt invests $64mln in electricity network development in South Sinai since July 2014

              First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

              First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

              Oman’s refinery products output jumps by 44%

              Oman’s refinery products output jumps by 44%

              Iraq agrees to 30% stake in TotalEnergies $27bln energy project

              Iraq agrees to 30% stake in TotalEnergies $27bln energy project

              Oman signs $20bn hydrogen deals

              Oman signs $20bn hydrogen deals

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              Abu Dhabi National Oil Company moves to maintain competitive edge

              OBG

              July 31, 2016
              in Oil & Gas
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              Major reforms are under way at the Abu Dhabi National Oil Company (ADNOC), as the state-owned oil firm moves to strengthen performance and profitability and create greater efficiencies, against a backdrop of low oil prices.

              ADNOC, which is one of the world’s largest state-owned oil companies, is committed to achieving its target, depending on market conditions, of raising output to 3.5m barrels per day (bpd).

              However, with international oil prices around $50 per barrel in June – at one point dropping over 70% from a high of around $115 in June 2014 – ADNOC, like some other major producers, has moved to implement far-reaching reforms aimed at ensuring it retains a competitive edge.

              Driving efficiencies
              ADNOC’s focus on being commercially-driven is being overseen by Sultan Ahmed Al Jaber, who joined the company in February. Full implementation of the reforms is expected to run into the next few years, but changes are already underway.

              For example, changes in senior management, aimed at ushering in the next generation of young technocrats, were enacted almost immediately. In May ADNOC revamped top-tier leadership across six of its operating units, including the Abu Dhabi Company for Onshore Petroleum Operations (ADCO) and the Abu Dhabi Marine Operating Company (ADMA-OPCO).

              Improving productivity across ADNOC’s 18 businesses, which range from downstream petrochemicals to upstream gas exploration, is likely to remain the focus in the short term.

              According to Al Jaber, the low oil price gave ADNOC an opportunity to examine the company’s efficiency across its operations more closely.

              “This process will ensure our company’s resilience and make it even stronger,” he told OBG. “We are working closely with everyone across the ADNOC family and with our strategic partners to identify, across the whole range of activities in our group, where we can do things better, be less cost intensive and perform more intelligently.”

              While the company has yet to provide further details of how operational efficiencies will be realized, tighter performance targets, based on operational cost per barrel for entities such as ADCO and ADMA-OPCO, will drive the transition.

              There also appears to be scope for examining the structures governing ADNOC’s operating companies.

              “A field bringing in 30,000 barrels per day doesn’t necessarily need to have the same operating model as large OPCOs,” Abdulmunim Alkindi, director of exploration and production at ADNOC, told OBG. “There is a major opportunity to capture integration opportunities, deepen and grow our petrochemicals business, extract maximum value from existing assets and expand business opportunities.”

              Movement on projects
              International oil companies have reacted positively to the changes, seeing an emphasis on new technologies and a more value-based environment as an opportunity to expand their presence in the oil-rich emirate, which holds 6% of global reserves, according to international media.

              Meanwhile, appraisals for several major gas projects in the Western region, including the Shuweihat, Ghasha and Hail fields, remain ongoing, as part of a fully-integrated Gas Master Plan that has been developed to improve efficiency, performance and delivery, and enable ADNOC to ensure a reliable and secure gas supply to help the UAE meet its development goals.

              Abu Dhabi will be looking to build on the success of Al Hosn Gas, which reached peak production of 1bn cubic feet per day (cfpd) of raw gas and 500m cfpd of gas sales in July 2015.
               
              German-based Wintershall Holdings completed appraisals on its first well in Shuweihat in May, citing a positive outcome, and plans to begin work on its second offshore well in September.

              At the same time, Houston-based Occidental Petroleum (Oxy) is in the early stages of conducting appraisals on the offshore Ghasha and Hail blocks, with support from Vienna-headquartered OMV.

              While energy subsidies for gas and electricity sold to power generators remain under review by authorities, a market rate could potentially incentivize gas projects, particularly those of higher sulphur content that impose a greater cost burden.

              ADCO is also moving ahead with the evaluation process for the remaining 22% of onshore concessions against a backdrop of considerable interest.

              French oil major Total secured the first stake of 10% in 2015, followed by Japan’s Inpex with 5% and South Korea-based GS Energy with 3%.

              In the medium term, many companies are positioning themselves for the offshore ADMA-OPCO concessions scheduled for 2018.

              “We are enthusiastic to work with the industry and to mutually benefit from what are very attractive, long-term and sustainable opportunities in the upstream oil and gas sector,” Al Jaber told OBG.

              While ADNOC’s output and recovery rates are likely to remain unchanged, the manner in which they are reached will continuously be evaluated.

              “Most importantly, we are focused on maintaining our current level of production as well as our investment program,” Al Jaber told OBG. “And, of course, we are also committed to achieving the overall target of 3.5m bpd, while we take into consideration prevailing market conditions.”
              Oxford Business Group
              31 July

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