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ADNOC Drilling Expands Fleet to Achieve $3bn Revenue by 2023

RIYADH: On the back of a strong first-quarter performance, ADNOC Drilling plans to go big on its expansion strategy as it eyes 20 percent year-on-year growth in revenue this year.  As a sole drilling partner to Abu Dhabi National Oil Co., ADNOC Drilling launched a bold fleet expansion program to enable the energy giant achieve its production targets.  In an interview with Arab News, the CEO of the Middle East’s largest national drilling company, Abdulrahman Abdulla Al-Seiari, said they grew the fleet by 16 rigs in 2022, bringing the total to 115. 
Business

“UK Business Secretary Optimistic about GCC-UK Free Trade Deal Progress”

RIYADH: Recently appointed British Secretary of State for Business and Trade Kemi Badenoch has highlighted the progress being made in Gulf Cooperation Council-UK free trade agreement negotiations. The politician made her comments during a visit to Riyadh on Wednesday as part of a five-day tour of GCC member states. She told Arab News: “We are very excited about the GCC-UK free trade agreement. We think that it could be really groundbreaking and set a precedent for what the GCC does with the rest of the world.”
Business

Flyadeal increases daily flights between Riyadh and Dubai at low cost.

RIYADH: In order to meet the growing travel demand between Riyadh and Dubai, flyadeal is going to increase daily flights to the emirate, the Saudi Press Agency reported.  The Kingdom’s low-cost airline has increased the total number of flights operating between King Khalid International Airport and Dubai International Airport to five per day, with an average weekly frequency of 33. 
Business

Saudi-Iraq to Create Economic Zone to Increase Trade

JEDDAH: Saudi Arabia and Iraq on Thursday signed a raft of agreements to boost economic cooperation and develop a special economic zone. The deals were signed during the fifth session of the Saudi-Iraqi Coordination Council in Jeddah. The two sides agreed to identify economic opportunities to boost bilateral trade and investments in various sectors. Following the session, Saudi Commerce Minister Dr. Majid Al-Qasabi said the meeting was an affirmation of the brotherly relations between the two countries and aimed to strengthen the strategic partnership.
sport

El Salvador stadium stampede: Arrest warrant for 5 people

SAN SALVADOR: El Salvador’s Public Prosecutor’s Office ordered the arrest of five people allegedly responsible for the weekend stampede at the Cuscatlan stadium in the country’s capital that left 12 fans dead during the second leg of the quarter-final playoffs between Alianza FC and Club Deportivo.
sport

Bundesliga Title on the Line: Dortmund vs Bayern on Final Day

BERLIN: The closest Bundesliga title race for years ends on the final day of the season on Saturday when Borussia Dortmund or Bayern Munich will be crowned champion. Dortmund lead by two points and need to beat Mainz at home to be sure of ending Bayern’s 10-year reign, while Bayern will be hoping for a Dortmund slip-up as they visit Cologne at the same time. Bayern’s goal difference is better than Dortmund’s so a draw won’t be enough for Dortmund if Bayern beat Cologne.
Business

Saudi Arabia and Azerbaijan sign energy deal

RIYADH: Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman met his Azerbaijani counterpart Parviz Shahbazov on Wednesday to discuss bilateral cooperation in the fields of energy, including renewables, Saudi Press Agency reported. During the meeting, the pair signed an energy cooperation agreement covering oil, petrochemicals, gas, electricity and energy efficiency. The deal also outlines cooperation in the field of circular carbon economy and related technologies that seek to mitigate the impact of climate change.
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