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Banking & Finance
UAE’s ADNOC L&S reports $401 million net profit in H1 2024, sustained by 42 percent growth in revenues
This represents 31 percent increase YoY
Markets
Oil prices slide on bearish inventory data, persistent global economic slowdown fears
Brent crude oil futures for October delivery fell 0.5 percent to $76.13 per barrel
Banking & Finance
Saudi Arabia’s non-oil sector maintains solid growth in July, PMI at 54.4 amid competitive dynamics
The start of Q3 saw both output and new orders expand to a lesser degree
Markets
Oil prices rebound over 1 percent as Middle East tensions offset demand concerns
Brent crude oil futures for October delivery rose 1.3 percent to $77.29 per barrel
Energy
China’s maritime economy generates $678.55 billion in H1 2024, up 5.6 percent YoY
The sea area designated for use grew by 16.9 percent YoY, with ¥500 billion in projects
Markets
Oil prices head for fourth week of losses as demand worries outweigh supply risks
Brent oil futures for October delivery rose 0.4 percent to $79.84 per barrel
Banking & Finance
Qatar reports $711.58 million budget surplus on $16.39 billion total revenues for Q2 2024
The surplus was directed towards reducing public debt, and therefore there is no cash surplus
Markets
Oil price rallies amid Middle East tensions and OPEC+ meeting, China concerns linger
Brent oil futures expiring in October rose 0.5 percent to $81.24 a barrel
Banking & Finance
Abu Dhabi’s Borouge reports $308 million Q2 net profit, 33 percent YoY increase
Higher sales and cost efficiencies drove the company's highest-ever production volumes
Markets
Oil prices jump on robust U.S. fuel demand, inventory draws
Brent crude futures for September delivery jumped 1 percent to $79.45 per barrel
Energy
ADNOC’s offshore SARB field begins AI-enabled operations, raises capacity by 25 percent
Expansion supports ADNOC’s target to increase its production capacity to 5 million barrels of oil per day by 2027
Egypt
Egypt signs $342 million in agreements to boost oil, gas production
Cheiron Energy to increase natural gas production from the West Burullus offshore field development project
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