It has been a time of sweeping changes in the boardrooms and offices of Abu Dhabi’s offshore oil businesses, but on the rigs, platforms and islands, the focus continues to be on increasing the output of oil and gas. The consolidation of Abu Dhabi Marine Operating Company (ADMA-OPCO) and Zakum Development Company (ZADCO), which was announced in...
Under new leadership, Abu Dhabi National Oil Company (ADNOC) is set to become a more streamlined organisation in 2017, as steering groups work through the fine details of two landmark consolidations; the first concerning two offshore oil companies, and the second relating to three shipping and marine services companies. After two years of...
With significant investment and new or renewed international partnerships, production from Abu Dhabi’s onshore oil fields, which are operated by Abu Dhabi Company for Onshore Petroleum Operations (ADCO), the onshore firm of Abu Dhabi National Oil Company (ADNOC), is due to reach 1.8m barrels per day (bpd) in 2018. A further 1.7m is set to be...
As the first emirate in the UAE to roll out mandatory health coverage, Abu Dhabi’s insurance sector has benefitted from over a decade of strong growth in both the life and general lines, with the UAE home to the region’s largest and most mature insurance market. Still, 2015 was a difficult year for the industry, as underwriters struggled with...
The rapidly expanding Islamic finance industry is still a relatively new component of the world economic system. The regulatory frameworks that govern it, therefore, show a high degree of variation from one jurisdiction to the next. Almost all of them, however, fall within two broad models: a centralised system, with some form of higher sharia...
Abu Dhabi’s sharia-compliant finance sector, traditionally led by its Islamic banking industry, has expanded to include an increasing array of activities in areas such as insurance offerings and asset management. An environment of low oil prices has put pressure on margins in 2016 but, with nearly a quarter of assets in the UAE held by sharia-...
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