As a close-out agreement was signed for long-held concessions in early 2014 and the government is looking for potential new partners for the development of its oil and gas fields, 2014 may see a shake-up of Abu Dhabi’s hydrocarbons industry. At the same time, the emirate has ambitious targets for increasing oil production, an aim that will...
While the Abu Dhabi Economic Vision 2030 strategy provides a clear path to growth and diversification, reaching its goals – which include an average annual growth rate of 7% until 2015 and 6% annually thereafter; significant expansion of the non-oil sector, with the aim of it accounting for 64% of GDP by 2030; and a 50% or greater increase in GDP per capita – is a...
With new leadership and a slate of reforms under discussion, the insurance regulator is ramping up efforts to manage and support the insurance sector. Since 2007, when the UAE’s Insurance Authority (IA) was established, the local industry has expanded at a steady clip. Gross written premiums (GWPs) for general insurance grew 37.9% in 2007, 30.7...
The rapid growth of Abu Dhabi’s air transport and maritime shipping industries over the course of the past decade has had a knock-on effect on the production and trading of jet and bunker fuel in both the emirate and the UAE as a whole. A number of major local players – including the Abu Dhabi National Oil Company’s (ADNOC’s) distribution arm,...
Given the demands of power generation, industry and oil field reinjection, gas is becoming more important to the emirate’s economy. As such, in conjunction with international partners, Abu Dhabi National Oil Company (ADNOC) is turning to tight marginal reserves once thought commercially unviable.
Although inflation had been a growing issue prior to the 2008-09 global economic crisis, these concerns have since been receding. In December 2008, the inflation rate hit an all-time high of 12.3% – a level high enough to present a significant challenge for the Central Bank of the UAE (CBU). Finding its ability to respond to the trend through...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×