Dubai oil hub for Middle East and Asia

Picture: Imran Saddique
Picture: Imran Saddique

Dubai is looking to become the center of the oil trade for the Middle East and Asia Region. According to local media in the UAE “The National”, the Dubai Mercantile Exchange (DME) has increased its trading volume to enter into the giant traders’ bracket. Currently the trading has reached almost 3 million barrels.

Dubai and Oman are two of the oil producers in the Middle East, and collectively both constitute 6% of the total oil production throughout Gulf. According to the press, Thomas Leaver the CEO of DME communicated that he was prepared to wait until they become the dominant oil hub east of the Suez. The CEO is confident that after the first giant oil refiner joins, others will follow the same path as well which will allow the region to grow in terms of oil production.

The CEO said that DME has set up good strategy to move ahead in future aggressively. The possible challenges have been discussed and plans have been set up to tackle them strategically.



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[caption id="attachment_24963" align="alignleft" width="300"] Picture: Imran Saddique[/caption] Dubai is looking to become the center of the oil trade for the Middle East and Asia Region. According to local media in the UAE “The National”, the Dubai Mercantile Exchange (DME) has increased its trading volume to enter into the giant traders’ bracket. Currently the trading has reached almost 3 million barrels. Dubai and Oman are two of the oil producers in the Middle East, and collectively both constitute 6% of the total oil production throughout Gulf. According to the press, Thomas Leaver the CEO of DME communicated that he was prepared...

Picture: Imran Saddique
Picture: Imran Saddique

Dubai is looking to become the center of the oil trade for the Middle East and Asia Region. According to local media in the UAE “The National”, the Dubai Mercantile Exchange (DME) has increased its trading volume to enter into the giant traders’ bracket. Currently the trading has reached almost 3 million barrels.

Dubai and Oman are two of the oil producers in the Middle East, and collectively both constitute 6% of the total oil production throughout Gulf. According to the press, Thomas Leaver the CEO of DME communicated that he was prepared to wait until they become the dominant oil hub east of the Suez. The CEO is confident that after the first giant oil refiner joins, others will follow the same path as well which will allow the region to grow in terms of oil production.

The CEO said that DME has set up good strategy to move ahead in future aggressively. The possible challenges have been discussed and plans have been set up to tackle them strategically.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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