The UAE is sending resources to the Gulf of Mexico to help tackle the huge oil spill caused by the explosion on the Deepwater Horizon offshore drilling rig. Philip Crowley, an assistant secretary of the US Department of State, said he was grateful for the offer.
The United Nations and 14 other countries have also offered assistance. The leak, 80km off the Louisiana coast and 1,500 metres underwater, was the result of a blast three weeks ago in which 11 workers were killed. Seacor Environmental Services, an Abu Dhabi-based company, said yesterday that it was to take part in the response. "We have a contract with Adnoc and we are working with them to provide resources for the response," said Alex Spence, the company's regional general manager. He declined to give any further details.
According to Seacor's website, the company provides environmental, industrial and emergency responses, including "oil spill response management and clean-up". Adnoc was unavailable for comment. Robin Mills, a petroleum economist for the Dubai Government-owned Emirates National Oil Company, said it was likely that the UAE's assistance would be geared towards reducing the environmental impact of the spill.
"The most obvious thing to help with is coastal defence to prevent oil from washing to the shore and getting to the beaches. That would be the relevant thing, the clean-up stuff," he said. Analysts said the different operating environment in the Gulf of Mexico meant that it was unlikely that the UAE would send a large team of people. They suggested that help was more likely to offered be in the form of equipment.
"I think they will help tackling the oil from washing to the shore," said Mr Mills. "It's more likely to be equipment. The bulk of work is being done by specialists in the US." British Petroleum (BP), which leased the rig, has been leading the response, along with the US Coast Guard. The UAE's offer comes amid growing concerns that the spill may become the worst in US history. Lamar McKay, the president of BP America, Steven Newman, the president of the drilling company Transocean, and Tim Probert, a senior executive at Halliburton, were questioned about the spill by two Senate committees yesterday.
Rudolf Leeman, an analyst at the investment bank UBS, said: "There is no quick fix at hand. The spill will probably continue for another one to nine weeks until it can be stopped. This makes it likely that oil will reach the shore. "With floating booms and dispersants this can be delayed, but it is still likely to eventually happen." This would result in higher clean-up costs, Mr Leeman said. "Currently, control and clean-up operations cost US$6 million (Dh22m) per day, but this is likely to increase to probably $10m, once the oil gets on shore," he said. "We assume these costs to continue for another two to three months. This translates to around $600m."
@Email:asafdar@thenational.ae
UAE currency: the story behind the money in your pockets
MATCH INFO
What: Brazil v South Korea
When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae
More from UAE Human Development Report:
Name: Colm McLoughlin
Country: Galway, Ireland
Job: Executive vice chairman and chief executive of Dubai Duty Free
Favourite golf course: Dubai Creek Golf and Yacht Club
Favourite part of Dubai: Palm Jumeirah
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
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Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
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SPECS
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
BLACKBERRY
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
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'Nope'
Oppenheimer
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Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
MORE ON LOCUSTS
Editorial: In the eye of the swarm
Environment: Locust vs drone: how the UN is trying new weapons against the plague
Taylor Heyman: Locusts on the agenda at Riyadh International Humanitarian forum
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ACL Elite (West) - fixtures
Monday, Sept 30
Al Sadd v Esteghlal (8pm)
Persepolis v Pakhtakor (8pm)
Al Wasl v Al Ahli (8pm)
Al Nassr v Al Rayyan (10pm)
Tuesday, Oct 1
Al Hilal v Al Shorta (10pm)
Al Gharafa v Al Ain (10pm)
While you're here
Editorial: The case for repatriating ISIS Europeans
Jamie Prentis: Alleged ISIS member living off benefits in the UK
Sholto Byrnes: Neither Shamima Begum nor Sajid Javid should be above the law
COMPANY%20PROFILE%20
'THE WORST THING YOU CAN EAT'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
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While you're here
Con Coughlin: Lebanon's political crisis should make Iran very nervous
Mina Al-Oraibi: Beirut's suffering is the result of a failed political system
Michael Young: From one crisis to the next, where is Lebanon headed?
Match info
Wolves 0
Arsenal 2 (Saka 43', Lacazette 85')
Man of the match: Shkodran Mustafi (Arsenal)
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The specs
Engine: 5.2-litre V10
Power: 640hp at 8,000rpm
Torque: 565Nm at 6,500rpm
Transmission: 7-speed dual-clutch auto
Price: From Dh1 million
On sale: Q3 or Q4 2022
The specs
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More coverage from the Future Forum
• Remittance charges will be tackled by blockchain
• UAE's monumental and risky Mars Mission to inspire future generations, says minister
• Could the UAE drive India's economy?
• News has a bright future and the UAE is at the heart of it
• Architecture is over - here's cybertecture
• The National announces Future of News journalism competition
• Round up: Experts share their visions of the world to come
The specs
Engine: 4 liquid-cooled permanent magnet synchronous electric motors placed at each wheel
Battery: Rimac 120kWh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry
Power: 1877bhp
Torque: 2300Nm
Price: Dh7,500,00
On sale: Now
If you go
The flights
Emirates flies from Dubai to Funchal via Lisbon, with a connecting flight with Air Portugal. Economy class returns cost from Dh3,845 return including taxes.
The trip
The WalkMe app can be downloaded from the usual sources. If you don’t fancy doing the trip yourself, then Explore offers an eight-day levada trails tour from Dh3,050, not including flights.
The hotel
There isn’t another hotel anywhere in Madeira that matches the history and luxury of the Belmond Reid's Palace in Funchal. Doubles from Dh1,400 per night including taxes.
COMPANY PROFILE
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Plastic tipping points
More from Neighbourhood Watch:
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While you're here ...
Damien McElroy: The risk in extending a lockdown indefinitely
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Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
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