Dubai Economic Growth Expected to Slow

Posted on Mar 15, 2012 in UAE Economy, UAE Investment and Finance

The United Arab Emirates’ economic growth is expected to slow to 2.3% this year, from an estimated 4.9% in 2011, due to limited potential for further increasing oil production amid an uncertain global economic environment, according to the International Monetary Fund. The IMF also noted that in the event of a worsening of world economic […]

S.Korean Firm Signs $2 Billion Oil Deal with UAE

A South Korean energy group is to invest US$2 billion as part of a project to develop three oil fields in the United Arab Emirates, officials said Monday.  This comes as Asia works to decrease its oil dependence on Iran.

UAE Oil Production Compensates for Libyan Disruption

The UAE has increased oil production in part to compensation for production disruptions in Libya. Data for September, release by the International Energy Agency (IEA) shows that oil output in September rose 0.8 percent to 2.55 million barrels per day. Both the UAE and Kuwait increased output to the highest level in three years. Saudi […]

Investment Pumped into UAE Energy Sector

The UAE is now positioning itself to become the the second largest Arab investor in the energy sector with a massive $76 billion in funds to be placed in the sector over the next 5 years. The UAE’s investment in energy would place it  behind Saudi Arabia, with a projected investment of $141 investment, and […]