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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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

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          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

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          MAFWR, Port of Duqm sign MoU

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Local, Italian companies partner up to establish food retail chain in Egypt

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

            Aecom wins Neom utilities infrastructure design contract

            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

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                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

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Middle East oil & gas sector needs $1.6 trillion investment

              SG

              October 9, 2013
              in Oil & Gas
              0

              A greater role for private sector investment in the Middle East's oil & gas sector is required to support governments and national oil companies to meet growing energy demand in the region, said Majid Jafar, CEO of Crescent Petroleum and Vice-Chairman of the Crescent Group.

              According to estimates by the International Energy Agency, the oil & gas sector in the Middle East will require a total of $1.6 trillion of new investment over the next 25 years, equating to $65 billion annually.

              In a speech at the 2013 Oil & Money Conference in London, Majid Jafar emphasized the need to provide incentives for investment and increased partnership between the public and private sectors to address the growing needs of energy supply in the Middle East region, which now has the fastest growing energy markets in the world. He also highlighted the need to tackle energy subsidies, which are costing the Middle East North Africa region over $500 billion annually, according to the latest report by the International Monetary Fund (IMF).

              The Middle East's energy demand, equivalent to 12.5million barrels oil equivalent per day in 2010, is forecast to expand to 15.5m BOE/D by 2020 and to reach 18.5m BOE/D by 2030 – of which oil & gas will still contribute 96 percent – emphasizing the resources' continued importance to the region. But meeting this demand should not be difficult, since the Middle East is endowed with 48 percent and 43 percent of global oil & gas proven reserves, respectively.

              "The role of the private sector in all sectors of the economy is important to bring in project management skills, new capital and technology, and to help create new jobs in partnership with the national oil companies and regional governments in order to address the future investment and energy needs of growing economies," said Jafar.

              Over the past decade, the global exploration and production industry has increased global oil & gas production from c. 128m BOE/D to c. 145m BOE/D. The national oil companies and independent private companies, which contribute more than 80 percent of this production, have been the chief contributors to this production growth, growing their production bases by over 25 percent and 15 percent respectively in this period. By contrast, the large energy major companies, which have maintained their share of the global mix at around 16 percent, have grown their aggregate production base by only around 5 percent over the same period.
              The Saudi Gazette
              8 October

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