Dubai has supported financial markets through legislative frameworks and right infrastructure, and allowed exchanges – such as the Dubai Mercantile Exchange – to consolidate their presence regionally and globally, Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance and Deputy Ruler of Dubai, said.
DME, which trades Oman's crude oil futures contracts, has gained the confidence of major oil producers and established its image as the most reliable source of oil pricing in the region, Sheikh Maktoum said in a statement on Tuesday.
Sheikh Maktoum held a meeting with the DME’s board of directors to review the latest developments and future growth opportunities.
He praised the DME's achievements, noting that the successful exchange strategy contributed to the growth of trading volume and enhanced its ability to benefit from the steady growth of crude oil trading in the Middle East and Asia regions.
Launched in June 2007, the DME is an energy-focused commodities exchange in the East of Suez. Based within the Dubai International Financial Centre, it lists the Oman Crude Oil Futures Contract as its flagship contract, providing the most fair and transparent crude oil benchmark for the region.
The number of companies using the platform for physical delivery rests at 60 and the number of barrels of oil delivered through the DME mechanism is 2.5 billion barrels.
The contract is regarded as the most reliable crude oil futures price benchmark due to the quality of Oman Blend, which represents the majority of the GCC crude oil grades.
DME is a joint venture between Dubai Holding, Oman Investment Authority and CME Group — an American global markets company. In addition to its core shareholders, global financial institutions and energy trading firms such as Goldman Sachs, JP Morgan, Morgan Stanley, Shell and Vitol have taken equity stakes in DME.
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
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Kibsons%20Cares
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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Brescia 1 (Skrinia og, 76)
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Mercedes-AMG GT 63 S E Performance: the specs
Engine: 4.0-litre twin-turbo V8 plus rear-mounted electric motor
Power: 843hp at N/A rpm
Torque: 1470Nm N/A rpm
Transmission: 9-speed auto
Fuel consumption: 8.6L/100km
On sale: October to December
Price: From Dh875,000 (estimate)
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Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.
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All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
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Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
GIANT REVIEW
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Director: Athale
Rating: 4/5
