ENERGY-

Drilling works are underway at US-based hydrocarbon exploration firm EOG Resources’ UAE shale oil exploration project, Reuters reports. Adnoc has successfully initiated horizontal drilling and surface well-testing at the EOG-operated shale block in Al Dhafra region — right on schedule with EOG’s expected start in 2H 2025, CEO Ezra Yacob told the newswire.

REMEMBER- EOG was granted a new oil exploration concession back in May as part of a wider USD 60 bn worth of energy agreements inked between the UAE and US to expand the Emirates’ oil and gas production and explore new fields.

LOGISTICS-

Emirati ports operator Gulftainer has launched the UAE’s first bonded inland container depot in Sharjah, according to a statement. The facility — strategically located some 20 km from Sharjah Port and 140 km from Khorfakkan Port — will offer multimodal transport services from inland markets to ports.

FINANCE-

Stronghold Capital secures DFSA approval to operate as a hedge fund in DIFC: Dubai Financial Services Authority (DFSA) has authorized Emirati multi-strategy hedge fund Stronghold Capital Management to operate as a hedge fund manager in the Dubai International Financial Center (DIFC), according to a press release.

REMEMBER- DIFC saw a record 1H — partly due to a hedge fund rush, with the number of hedge funds up 72% y-o-y to reach 85 by the end of the period. The number of active companies was up 25% y-o-y jump to 7.7k.

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