Eni signs oil deal with Ras Al Khaimah

Italian oil firm Eni is expanding its footprint in the Middle East. (Reuters)
Updated 19 April 2019

Eni signs oil deal with Ras Al Khaimah

  • The agreement covers Block A offshore Ras Al Khaimah, one of the seven United Arab Emirates
  • It was signed between Eni and the emirate’s RAK Petroleum Authority

MILAN: Eni has signed an exploration and production sharing agreement with the emirate of Ras Al Khaimah, the Italian oil company’s latest expansion in the Middle East.
The agreement covers Block A offshore Ras Al Khaimah, one of the seven United Arab Emirates (UAE). It was signed between Eni and the emirate’s RAK Petroleum Authority, Eni said in a statement.
Block A is an area of 2,412 sq km. Eni will be the block’s operator, with a 90 percent participating interest, while RAK GAS will hold the remaining 10 percent.
Earlier this year, Eni pledged $3.3 billion to buy part of the world’s fourth-biggest refinery in the UAE, increasing its own refining capacity by more than a third. 

In January, the oil company of Sharjah, another emirate, awarded Eni concessions in three areas. 

That same month Eni also signed an exploration and production agreement in neighboring Oman.


Dubai carrier Emirates issued over $517 million in refunds in past two months

Updated 02 July 2020

Dubai carrier Emirates issued over $517 million in refunds in past two months

  • Dubai-based carrier is operating a limited numbers of flights on a reduced network after the coronavirus pandemic

DUBAI: Emirates, one of the world’s biggest long-haul airlines, has processed close to 650,000 refunds over the past two months, refunding over $517 million, it said on Thursday.
The Dubai-based carrier is operating a limited numbers of flights on a reduced network after the coronavirus pandemic brought global aviation to a near halt this year.
Emirates expects to process more than 500,000 refunds in the next two months, Chief Commercial Officer Adnan Kazim said in a statement.