US President Donald Trump has been presented with a capsule of domestically produced oil by the head of the UAE company Adnoc.
Dr Sultan Al Jaber, managing director and group chief executive of Adnoc, told Mr Trump the oil was Murban, one of the highest quality grades of crude oil.
“The highest-quality oil there is on the planet and they only gave me a drop of it," Mr Trump joked. "So I’m not thrilled. But it’s better than no drop.”
Dr Al Jaber, Minister of Industry and Advanced Technology, told the US President before a meeting of business leaders in Abu Dhabi on Friday: “This has become a globally recognised benchmark."
Murban is the UAE's flagship crude oil grade. Supplied by Adnoc, it is considered one of the lowest carbon-emission crude oils in the world.
It is a premium-grade, light, sweet crude that is popular among Asian buyers, who are increasingly dominating the global trade in oil.
Fujairah port on the UAE's east coast accounts for about 75 per cent of Murban exports, with the rest shipped out from Ruwais port, according to S&P Global.
The Murban futures contract made its debut on the Ifad in March 2021 as the UAE's capital set its sights on becoming a commodities hub.
Ifad, at the Abu Dhabi Global Market, is an independent futures exchange for the trade of Murban futures contract derivatives.
The Murban futures contract allows oil from Abu Dhabi to become a freely traded global commodity, filling a void in the trading and pricing of crude from the Middle East.
Total traded volume for Murban crude oil futures more than doubled to 6.04 million lots in 2024, surging by 3.75 million lots year-on-year, the highest since the launch of the contract on March 29, 2021, data from the exchange showed.
Murban is Adnoc's largest crude by volume, accounting for about two million barrels per day of production capacity. It typically sees baseload demand from certain refineries in Japan and South-east Asia, but in recent months has faced stiff competition from arbitrage barrels from the US, S&P Global said.
BUNDESLIGA FIXTURES
(All games 4-3pm kick UAE time) Bayern Munich v Augsburg, Borussia Dortmund v Bayer Leverkusen, Hoffenheim v Hertha Berlin, Wolfsburg v Mainz , Eintracht Frankfurt v Freiburg, Union Berlin v RB Leipzig, Cologne v Schalke , Werder Bremen v Borussia Monchengladbach, Stuttgart v Arminia Bielefeld
Yahya Al Ghassani's bio
Date of birth: April 18, 1998
Playing position: Winger
Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda
The biog
Born: Kuwait in 1986
Family: She is the youngest of seven siblings
Time in the UAE: 10 years
Hobbies: audiobooks and fitness: she works out every day, enjoying kickboxing and basketball
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Set off early to avoid sudden weather changes in the afternoon
Wear appropriate clothing and footwear
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F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
ILT20%20UAE%20stars
%3Cp%3E%3Cstrong%3ELEADING%20RUN%20SCORERS%3C%2Fstrong%3E%3Cbr%3E1%20Nicholas%20Pooran%2C%20261%3Cbr%3E%3Cstrong%3E2%20Muhammad%20Waseem%20(UAE)%2C%20248%3C%2Fstrong%3E%3Cbr%3E3%20Chris%20Lynn%2C%20244%3Cbr%3E4%20Johnson%20Charles%2C%20232%3Cbr%3E5%20Kusal%20Perera%2C%20230%3Cbr%3E%3Cbr%3E%3Cstrong%3EBEST%20BOWLING%20AVERAGE%3C%2Fstrong%3E%3Cbr%3E(minimum%2010%20overs%20bowled)%3Cbr%3E%3Cstrong%3E1%20Zuhaib%20Zubair%20(UAE)%2C%209%20wickets%20at%2012.44%3Cbr%3E2%20Mohammed%20Rohid%20(UAE)%2C%207%20at%2013.00%3C%2Fstrong%3E%3Cbr%3E3%20Fazalhaq%20Farooqi%2C%2017%20at%2013.05%3Cbr%3E4%20Waqar%20Salamkheil%2C%2010%20at%2014.08%3Cbr%3E%3Cstrong%3E5%20Aayan%20Khan%20(UAE)%2C%204%20at%2015.50%3C%2Fstrong%3E%3Cbr%3E6%20Wanindu%20Hasaranga%2C%2012%20at%2016.25%3Cbr%3E%3Cstrong%3E7%20Mohammed%20Jawadullah%20(UAE)%2C%2010%20at%2017.00%3C%2Fstrong%3E%3C%2Fp%3E%0A
Getting%20there
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Company%C2%A0profile
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The biog
Simon Nadim has completed 7,000 dives.
The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast.
As a child, he loved the documentaries of Jacques Cousteau
He also led a team that discovered the long-lost portion of the Ines oil tanker.
If you are interested in diving, he runs the XR Hub Dive Centre in Fujairah
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
FA Cup fifth round draw
Sheffield Wednesday v Manchester City
Reading/Cardiff City v Sheffield United
Chelsea v Shrewsbury Town/Liverpool
West Bromwich Albion v Newcastle United/Oxford United
Leicester City v Coventry City/Birmingham City
Northampton Town/Derby County v Manchester United
Southampton/Tottenham Hotspur v Norwich City
Portsmouth v Arsenal
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
