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HuaweiOil prices extended losses on profit-taking in Asian trade Friday following sharp gains powered by the US central bank’s pledge to retain its massive bond-buying programme, analysts said.
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Oil prices were mixed in Asia on Thursday as traders took profits from gains fuelled by a bigger-than-expected drop in US crude inventories, analysts said.
Emerging economies will become the main force in the global oil market next year, driving demand to a record high level, IEA figures showed on Thursday.
The Dubai Supreme Council of Energy, or DSCE, in collaboration with the Emirates Wildlife Society (EWS) organised a two-day training workshop, attended by over 60 representatives of more than 30 government departments in Dubai, on topics related to the conservation of power ,and water consumption in office buildings.
The price of oil stayed above $101 a barrel Thursday after being jerked higher by unrest in Egypt and a fall in U.S. energy stockpiles that suggests a recovery in demand.
Gas, as a clean and environmentally-friendly source of energy, will remain a major factor in the world energy supply equation and a driving force for the world economic growth, Suhail bin Mohamed Faraj Fares Al Mazrouei, the UAE Minister of Energy affirmed at the second summit of the Gas Exporting Countries Forum (GECF) in Moscow.
The Dubai Electricity and Water Authority (Dewa) has launched a new water pipeline project in the Palm Jumeirah, in line with its strategy to enhance its infrastructure and meet growing demand for its services across Dubai.
Abu Dhabi is one of the Arab world’s leading energy hubs, with more than 100 billion barrels of proven crude oil reserves and three per cent of current global production.
India’s government said on Friday it had doubled natural gas prices to stimulate investment and reverse a decline in domestic production which has caused power shortages for industry.
Abu Dhabi grew 7.7 per cent year on year in 2012, on higher oil prices. “The flexibility of Abu Dhabi economy combined with the huge financial surpluses, strong growth in non-oil sectors, high oil prices, along with several other significant factors have all contributed to the stability and sustained growth of the local economy,” said Statistics Centre – Abu Dhabi, or Scad.