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State oil giant Abu Dhabi National Oil Company (ADNOC) will float its marine and logistics arm ADNOC Logistics and Services (ADNOC L&S) in June, unnamed sources told Reuters. ADNOC has not made a public announcement on the possible IPO and has so far declined to comment on the alleged IPO plans. Advisors: Citigroup, JP Morgan, […]
Author Archives: enterpriseam admin
Posted inDispute Watch
Iraq halts Kurdish oil exports after court rules in its favor in landmark arbitration case against Turkey
Iraq has halted crude exports from the Kurdish region after a court ruled in its favor in a 9 year arbitration dispute against Turkey over Kurdish oil exports, last Thursday according to a statement from Iraq’s oil ministry. Under the ruling, Turkey will shell out approximately USD 1.5 bn to Iraq, a figure far lower […]
Posted inRail
Iraq approves Development Road linking it with Turkey
Linking Iraq’s Faw port to Turkey’s border, the highway will be dedicated to transporting goods
Posted inAround the World
Beijing is less excited than Moscow about prospects for a new gas pipeline
China’s lukewarm attitude towards a major new gas pipeline poject with Russia signals a shift in power dynamics, according to a recent analysis by France 24. China provided Russia with an economic lifeline last year after Western powers slapped sanctions on Russian energy exports in response to the invasion of Ukraine. Accordingly, Russian officials have […]
Posted inCalendar
MARCH 28-30 March (Tuesday-Thursday): Mediterranean Ports and Shipping 2023, Grand Hyatt, Athens, Greece. APRIL 18-20 April (Tuesday-Thursday): Intermodal Africa, Durban International Convention Centre, South Africa. 25-27 April (Saturday-Monday): World Cargo Symposium, Hilton Istanbul Bomonti Hotel and Conference Centre, Istanbul, Turkey. MAY 4 May (Tuesday): Deadline to submit proposals for the design, construction, finance, operation, and […]
Posted inWHAT WE’RE TRACKING TODAY
TODAY: Plenty of M&A news + Russian coal shipments drive up demand for capesize vessels, says MSI
Good morning, friends. It’s the final day before Ramadan, and we’re cherishing our last sips of morning coffee before a month of fasting; we hope you are too as you go through today’s issue. THE BIG STORY TODAY- There’s a smattering of big stories coming out of the UAE, Egypt and Oman: AD Ports is […]
Posted inSTORAGE & WAREHOUSE
Amazon ups storage capacity in the UAE by 70% with new Dubai fulfillment center
Amazon opened a new fulfillment center in Dubai, upping its storage capacity by 70%, the company said in a press release. The fulfillment center, located in Dubai South’s Logistics District, has 2.1 mn cubic feet of storage. The facility — which is the company’s second fulfillment center in the district — has uninterrupted access to […]
Posted inM&A Watch
Oman infrastructure fund Rakiza acquires 31% of Sohar port terminal
The fund raised USD 1 bn for infrastructure + logistics investments in the region
Posted inM&A Watch
Is AD Ports rivaling QIA’s bid for Egyptian cargo handling firms?
Is ADP eyeing stakes in Egyptian cargo handling firms? Abu Dhabi Ports (ADP) has reportedly submitted an initial offer to acquire a controlling stake in state-owned Egyptian firms Port Said Container and Cargo Handling (PSCCHC) and Damietta Container and Handling (DCHC), Al Mal quotes sources close to the matter as saying. The bid would rival […]