The UAE, Opec’s third-largest producer, plans to increase its output capacity to 5 million barrels per day by 2030 Bloomberg
The UAE, Opec’s third-largest producer, plans to increase its output capacity to 5 million barrels per day by 2030 Bloomberg
The UAE, Opec’s third-largest producer, plans to increase its output capacity to 5 million barrels per day by 2030 Bloomberg
The UAE, Opec’s third-largest producer, plans to increase its output capacity to 5 million barrels per day by 2030 Bloomberg

Fertilisers deal is key to future growth


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Fertilisers play a critical role in ensuring the security of the global food supply. Urea – a nitrogen based fertiliser made using ammonia and carbon dioxide – is a very important chemical for farmers across the world. For 35 years, Adnoc Fertilizers, with its two plants based in Ruwais, in Abu Dhabi's western Al Dhafra region, has sold granulated urea to them. Overnight, this unit of the Abu Dhabi National Oil Company group has gone from the 12th-largest nitrogen fertiliser exporter in the world to the biggest. This is the result of its decision to form a joint venture with the regional operations of the Dutch company OCI. A Middle East champion has now been created that can be a world leader. This scale has also been achieved with minimum capital investment, thanks to a creative deal that recognises the incredible opportunity that can be harnessed by both Adnoc and OCI working together.

Based in the Netherlands and owned by Egyptian billionaire Nassef Sawiris, OCI has plants in Egypt and Algeria. After the merger, OCI will own 58 per cent of the new entity – which will be headquartered at Abu Dhabi's financial hub ADGM – with Adnoc holding a 42 per cent stake. Together, they will have production capacity of 5 million tonnes of urea and 1.5 million tonnes of sellable ammonia. Combined annual revenues are $1.74 billion. However, this figure will surely grow as the joint venture accesses new markets and pursues fresh acquisitions. They will also share know-how and R&D benefits. In recent years, the global fertiliser market has been hit by lower prices and more competition. Producers in the GCC, Asia and the Americas are vying with each other and only the most efficient, technologically enabled companies will win.

The partnership between Adnoc and OCI creates a new industry leader that benefits from access to long-term stable natural gas supplies in Abu Dhabi, and state-of-the-art infrastructure in the key ports of the Mediterranean, Red Sea and Arabian Gulf. Adnoc's chief executive Dr Sultan Al Jaber, who will be chairman of the new company, said that the deal will help attract new investors to the town of Ruwais, which is developing into a world-class petrochemicals hub. Adnoc's 2030 strategy includes diversifying its revenues away from a reliance on the sale of crude oil, in line with the UAE's overall economic plans. Expanding its fertiliser business on a global scale and increasing profitability will go a long way to helping to achieve that vision. It will also support the agriculture industry worldwide and play an important role in food security for future generations.

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UAE currency: the story behind the money in your pockets
While you're here
Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
UAE currency: the story behind the money in your pockets
MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

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The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
If you go

The flights

There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.

The trip

Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.

The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.

 

While you're here
The specs: 2018 Mitsubishi Eclipse Cross

Price, base / as tested: Dh101,140 / Dh113,800


Engine: Turbocharged 1.5-litre four-cylinder


Power: 148hp @ 5,500rpm


Torque: 250Nm @ 2,000rpm


Transmission: Eight-speed CVT


Fuel consumption, combined: 7.0L / 100km

BELGIUM%20SQUAD
%3Cp%3EGoalkeepers%3A%20Thibaut%20Courtois%2C%20Simon%20Mignolet%2C%20Koen%20Casteels%0D%3Cbr%3E%0D%3Cbr%3EDefenders%3A%20Jan%20Vertonghen%2C%20Toby%20Alderweireld%2C%20Leander%20Dendoncker%2C%20Zeno%20Debast%2C%20Arthur%20Theate%2C%20Wout%20Faes%0D%3Cbr%3E%0D%3Cbr%3EMidfielders%3A%20Hans%20Vanaken%2C%20Axel%20Witsel%2C%20Youri%20Tielemans%2C%20Amadou%20Onana%2C%20Kevin%20De%20Bruyne%2C%20Yannick%20Carrasco%2C%20Thorgan%20Hazard%2C%20Timothy%20Castagne%2C%20Thomas%20Meunier%0D%3Cbr%3E%0D%3Cbr%3EForwards%3A%20Romelu%20Lukaku%2C%20Michy%20Batshuayi%2C%20Lo%C3%AFs%20Openda%2C%20Charles%20De%20Ketelaere%2C%20Eden%20Hazard%2C%20Jeremy%20Doku%2C%20Dries%20Mertens%2C%20Leandro%20Trossard%3C%2Fp%3E%0A
Key recommendations
  • Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
  • Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
  • Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
  • More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
How to report a beggar

Abu Dhabi – Call 999 or 8002626 (Aman Service)

Dubai – Call 800243

Sharjah – Call 065632222

Ras Al Khaimah - Call 072053372

Ajman – Call 067401616

Umm Al Quwain – Call 999

Fujairah - Call 092051100 or 092224411