Emirates Nuclear Energy Corporation, the state owned nuclear company of UAE has announced that it is going ahead with its plans to set up nuclear power plant. The firm said that it has already applied for a construction license that is going to cover the first two reactors of the project.
Total worth of the project is going to be $20 billion.
An integrated ‘energy hub’ is being developed in Libya in which Abu Dhabi's Al Maskari Holding is a major investor. The total worth of the deal is $ 3 billion (Dh11.01bn) and the objective of the same is to develop an undersea cable between Europe and the country. This is then going to be used for exporting electricity to Europe.
On Sunday, the rise in oil prices pushed up the Industries Qatar (IQ), in the way lifting up Doha's index to a two-week high level. The same activity was not seen in other regional markets that were somewhat mute.
On the other hand, IQ managed a rise of 4.5 per cent. It is the highest that it has seen in the last two years.
Support Services that includes design and project management for the first commercial nuclear plant in Middle East is going to be provided by Bechtel.
The plant that is going to be built and managed by UAE is one of the four that is being made by a consortium of four companies. Chief among them is the Korean Electric Power Corporation.
It has been informed that the Persian Gulf benchmark for Asia, Dubai crude is going to sell at a record price as compared to the other regional players. Dubai crude has gained maximum demand as the demand for the oil in the Middle East goes up enormously.
As per a recent statement, which was e-mailed by the Dubai Mercantile Exchange has reported that, the oil loading by the Dubai crude has gone up hugely against Oman in the month of March.
Zayed Future Energy had recently declared that six of 40 contestants have been selected for their grand prize of US$1.5 million. The finalists are a Scientist, a policy maker, three private firms and a college that runs on solar energy. These entities will face each other next month in the grand finale.
A senior Gulf official declared that there is a planning of a landmark plan to launch the Middle East's first currency union in the oil-rich Gulf. It is about to occur yet this will be completed after the return of the UAE and Oman.