عربي English Türkçe اردو فارسى
Logo
Latest News
Business

UAE’s ADNOC to Begin Production at Ras Al Sadr Gas Field

The field has production capacity of up to 100 million standard cubic feet of gas per day. WAM
The field has production capacity of up to 100 million standard cubic feet of gas per day. WAM
TT
20
TT

UAE’s ADNOC to Begin Production at Ras Al Sadr Gas Field

The field has production capacity of up to 100 million standard cubic feet of gas per day. WAM
The field has production capacity of up to 100 million standard cubic feet of gas per day. WAM

The United Arab Emirates' state-owned energy giant ADNOC is to start production at the Ras Al Sadr gas field in Abu Dhabi, state news agency WAM reported on Thursday.

The field has production capacity of up to 100 million standard cubic feet of gas per day, WAM said.

Ras Al Sadr is being developed jointly by ADNOC and JODCO, a subsidiary of one of Japan’s largest oil and gas exploration and production companies, INPEX.

“The successful restart of operations in the Ras Al Sadr field highlights ADNOC’s commitment to setting new industry standards as we strive to responsibly meet the demands of an ever-changing energy market,” said ADNOC Upstream Executive Director Abdulmunim Saif Al Kindy.

“The first well at Ras Al Sadr was the start of Abu Dhabi’s oil industry that has powered the UAE’s economy for over half a century. This achievement underscores our contribution to the prosperity and sustainability of the country and reaffirms our commitment to operate in harmony with local communities to create lasting and sustainable value for the nation,” he added.

Most Viewed

 
Business

Gulf Stock Markets Slip Amid Escalating Iran-Israel Conflict and Fed Policy Uncertainty

Traders monitor stock information displayed on screens at the Qatar Stock Exchange. (Reuters)
Traders monitor stock information displayed on screens at the Qatar Stock Exchange. (Reuters)
TT
20
TT

Gulf Stock Markets Slip Amid Escalating Iran-Israel Conflict and Fed Policy Uncertainty

Traders monitor stock information displayed on screens at the Qatar Stock Exchange. (Reuters)
Traders monitor stock information displayed on screens at the Qatar Stock Exchange. (Reuters)

Major stock markets across the Gulf declined on Tuesday, as heightened geopolitical tensions between Iran and Israel weighed on investor sentiment and fueled concerns over regional stability. Investors also remained on edge ahead of a key interest rate decision by the US Federal Reserve.

Reports from Iranian state media described a series of explosions and intense anti-aircraft fire lighting up the skies over Tehran. Simultaneously, air raid sirens sounded in Tel Aviv following a barrage of Iranian missile launches.

Amid the growing tensions, US President Donald Trump, speaking after departing early from the G7 summit in Canada, urged civilians to evacuate the Iranian capital.

At the same time, markets are closely watching developments in Washington, where the Federal Reserve is set to begin a two-day policy meeting. The central bank is widely expected to keep interest rates unchanged, but investors are eagerly awaiting signals from Chair Jerome Powell on the future path of monetary policy, particularly any indications of upcoming rate cuts to support a slowing global economy.

Against this backdrop, Gulf equity markets ended the day mixed. Saudi Arabia’s benchmark Tadawul All Share Index slipped 0.41%, while the Abu Dhabi Securities Exchange lost 0.51%. Dubai’s main index was down 0.64%.

Other markets followed suit. Qatar’s index dropped 0.51%, Muscat’s bourse fell 0.33%, and Egypt’s EGX 30 posted the largest regional decline, falling 1.02% amid heightened investor anxiety.

However, a few markets bucked the trend. Kuwait’s exchange rose 0.65%, while Bahrain’s index gained 0.30%, supported by selective buying and relative insulation from the geopolitical fallout.