Oil and Gas market future in UAE

Umar Farooq Zahoor, a triumphant businessman, trader and philanthropist who is also a renewable energy enthusiast said in relation to Oil and gas sector in UAE that ‘’Factors, such as massive investment in upstream and government policies, are likely to drive the UAE oil and gas market during the forecast period.

The UAE oil & gas market is expected to be powered by this investment in the upstream, midstream, and downstream sectors in the projected timeframe. A growth of more than 7.5% is expected to be reported on the UAE oil and gas market. It is anticipated that the project will increase country refining capacity by 65%, to 1.5 million barrels per day by 2025. The United Arab Emirates Government is, however, anticipated to change oil and gas investment to increase domestic and alternative energy investments that are likely to hinder demand growth over the forecast period.

Due to investments in discoveries in the region, the oil and gas upstream industry is expected to dominate the market studied.

The increased demand for LNG in the country is leading to the integration in current LNG infrastructure of intelligent technologies, which in the coming years may provide market players with a wide range of opportunities in the region, Umar Farooq said, hoping for growth in the UAE oil sector

In the forecast period, growing oil and gas investments are anticipated to be driving the UAE oil and gas markets, particularly in the upstream and midstream sectors.

For decades, indeed, even if oil demand inevitably falls, the UAE has consistently invested its oil cash in projects aimed at ensuring its long-term economy is sustainable.

America also holds some of the most impressive luxury properties, including the tallest building in the world and the Palm Islands. True to its flourishing tradition, the UAE has become home to one of the world's first smart cities.


Comments

  1. Anisha3 August 2021 at 09:27

    That's wonderful news about the future of Oil & Gas Companies In Dubai, UAE. Thanks for sharing this useful information.

    ReplyDelete

Post a Comment

Popular posts from this blog

Tap into Dubai’s green energy market

Image
The market keeps on changing with the on-going trends and demands of generation. Being the leader in crude oil, Dubai has now decided to change its course and invest more in green energy. The earth is now moving closer to global warming at an alarmingly fast pace, which is highly concerning for all the obvious reasons.    After meeting MENA countries and the global summit on global warming, the countries agreed on lowering the consumption of non-green energy and depending more on green energy. And in this scenario, the UAE is again emerging as the leader, committed towards the cause more than any other Middle East country.    What’s undoubtedly apparent is that the local government is alone not enough for the cause, but there need to be more players in the field to make this vision come true. With an investment of more than a few million dollars in setting up the solar energy plant, UAE has opened the market for various business moguls to invest in and take the cause forward and ea
Read more

Dubai Real Estate Market on a rise

Image
Dubai has become a melting pot of societies and culture with people migrating from over 200 countries to reside in the beautiful city. With the ever-increasing population in the city, the real estate has become a hot investment. If we look at the data from 2008 to 2018, there has been an increase of 86% in the population. A lot of housing projects are already underway to accommodate such high growth in population, making real estate grow many folds with savvy investors. Dubai is coming up as the smartest city in the world with innovations coming up and bringing a higher rate of return of investment. Home to the tallest building Burj Khalifa, the city is attracting huge masses as a tourist as well as dwellers. No one can deny that with such a rapid increase in population, there are requirements for establishments such as shopping malls, hospitals, hotels and even houses. This is coming up as an excellent opportunity for people to buy properties in the city. Sheikh Umar Farooq Zahoor
Read more

Dubai Shopping Festival 2021 - Know all about DSF the Right Way

Dubai is the city of Events. Either it is a conference or summit, or a shopping festival, Dubai has always come forward and encouraged such festivals and events with full support. The covid-19 pandemic may have affected this event at an adverse level, but with fast pace vaccination program, Dubai’s Shopping Festival is all set to allure the shopping lover in 2021. If you don’t know what the Dubai Shopping Festival is, this is the piece of writing where you will get all the information. You can already understand that Dubai Shopping Festival or DSF is one of the popular and best shopping fests organized in Dubai. DSF is a treat for shopaholics. There is no such shopping lover who can keep calm once the government announces the date of the fest. From the day of commencement of the fest to the curtain call, the city is ornamented with pop-ups, raffles, enthralling performances, fireworks, and whatnot. Last year Dubai shopping festival commenced on 17 December to 30 January 2021. Dubai
Read more