oil
Crude Awakening
Buoyancy and optimism are not words readily associated with Iraq, but there is a feeling this summer could mark a turning point in the country’s fortunes with major developments involving land, sea and air.
The IMF is slating 8 percent growth in 2008. More than three-quarters of business owners expect the economy to significantly grow over [...]
The world needs to find a new Saudi Arabia every two years to meet oil demand
The world oil consumption is increasing by one to two million barrels a day, per year, against a natural decline in the oil wells and reservoir of around eight per cent a year, warns Hamid Jafar, executive chairman of Dana Gas.
Jafar made this observation while addressing the senior bankers at the ‘Bankers Lunch’ at Dubai [...]
HOME AND AWAY
Just one month after DP World sealed the deal that sold the American port operations that came with its P&O purchase, Dubai staged another coup involving the US, and one that is proving as controversial.
On March 11, Halliburton, the oil services giant famously headed at one time by US vice president Dick Cheney, announced in [...]
How the high oil price is forcing the Gulf to go nuclear
At nearly 650 meters high and rising, Emaar’s Burj Dubai has been designed to symbolize the emirate’s brazen economic philosophy. Still unfinished, it already draws worldwide attention as the planet’s tallest freestanding structure. But with an electrical system that will suck enough juice to power 360,000 100-watt light bulbs, the tower also embodies Dubai’s formidable [...]
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