The GCC chemicals and petrochemicals industry demonstrated considerable resilience in the face of Covid-19 and oil price fluctuations. With economic diversification a leading concern for GCC economies, this publication details the structure, key stakeholders, and strategic contribution of chemicals and petrochemicals to economic diversification in the region. The report evaluates regional petrochemicals…
With travel restrictions, closed factories and social-distancing measures in place for much of the year, 2020 was particularly challengingforindustrial companiesaround the world. However, despite such constraints,many countries were able to successfully repurpose production to meet needs associated with the Covid-19 pandemic, while others look set to benefit from shifting trends…
Interview:Abdulwahab Al Sadoun How has the GCC petrochemicals industry been affected by the Covid-19 pandemic? ABDULWAHAB AL SADOUN: The health crisis had a significant effect on the petrochemicals industry. In the first half of 2020 demand collapsed and prices plunged, a challenge compounded by supply chain disruptions related to the closure of ports in China and increases in freight rates…
Interview:Khaled Al Huraimel How has Sharjah’s environmental sustainability drive evolved during the Covid-19 pandemic, and how can it contribute to a green recovery? KHALED AL HURAIMEL: Since 2010 Sharjah has prioritised waste management and environmental sustainability. Today these policies are evolving to include air quality, energy efficiency, health care technology, sustainable transport…
Interview: Hatem Al Mosa How is Sharjah pursuing its energy security goals amid rising demand for power? HATEM AL MOSA: Managing energy security involves a multifaceted approach that relies on the diversification of supply. In addition to SNOC’s production, Sharjah’s gas supply includes pipeline imports, access to existing liquefied natural gas regasification units and gas from across the UAE.…
Interview:Hussain Al Mahmoudi How can Sharjah and the UAE benefit from high-potential research areas in the coming years? HUSSAIN AL MAHMOUDI: There are five areas that will thrive in 2021 and beyond, generating quick wins, and delivering high strategic and social impact. Two of those areas are closely related to digitalisation. First, the Covid-19 pandemic has shone a spotlight on the importance…
Industry in Sharjah has benefitted from the emirate’s low-cost base, well-developed and connected infrastructure, and proximity to Dubai and the neighbouring northern emirates. This has resulted in Sharjah becoming a key regional industrial player. Indeed, the emirate is a significant contributor to the UAE’s total manufacturing output, accounting for around one-third of the country’s manufacturing…
As companies look to shift towards more environmentally sustainable operation, those in fossil fuel or heavy-polluting sectors are increasingly turning to transition bonds – a relatively new class of debt instrument used to fund a company’s transition towards reduced environmental impact or lower carbon emissions. They are often issued in large carbon-emitting industries that would not normally…
The year 2020 was a dramatic one for the global energy sector, with the Covid-19 pandemic slashing demand for hydrocarbons and upending market norms. Seeing that investment in oil and gas took a hit while renewable energy remained resilient, the pandemic is expected to result in a permanent realignment of the international energy market. Oil Price Crisis Travel restrictions and government-imposed…