LONDON: Qatar has resumed exports of condensate to the UAE after a three-year boycott was lifted.
A tanker offloaded at Dubai’s Jebel Ali port this week, Refinitiv Eikon data showed.
The Abu Dhabi III tanker, chartered by the Emirates National Oil Company (ENOC), loaded 80,000 tons of condensate, which is a hydrocarbon liquid similar to crude oil, at Qatar’s Ras Laffan port on March 4, the data showed.
It discharged its cargo on March 7 at Jebel Ali, where ENOC operates an oil refinery, the data showed.
ENOC did not immediately reply to request for comment.
Qatar’s three-year dispute with Saudi Arabia and three other Arab countries, including the UAE, ended with an agreement earlier this year, leading to restoring diplomatic and trading ties.
Before the boycott, Qatar regularly exported condensate to the UAE.
The UAE was forced to tap alternative sources for the oil, importing its first US cargo in mid-2017.
Qatar resumes condensate exports to UAE after boycott lifted
https://arab.news/gutna
Qatar resumes condensate exports to UAE after boycott lifted
- Data shows ENOC cargo unloaded at Jebel Ali
- Follows Gulf normalization of ties with Doha
Closing Bell: Saudi Arabia’s main index closes in red at 10,364
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower on Sunday, shedding 185.05 points, or 1.75 percent, to end the session at 10,364.03.
Total trading turnover on the benchmark index stood at SR2.55 billion ($680 million), with 20 stocks advancing and 237 declining.
The Kingdom’s parallel market Nomu also retreated, falling 0.63 percent, or 147.19 points, to close at 23,371.82.
The MSCI Tadawul Index slipped 1.71 percent to 1,369.56.
Saudi Industrial Export Co. was the top gainer on the main market, with its share price jumping 9.87 percent to SR2.56.
Shares of Naqi Water Co. rose 2.53 percent to SR58.80, while Shatirah House Restaurant Co. advanced 2.18 percent to SR9.39.
On the downside, Gulf Union Alahlia Cooperative Insurance Co. posted the steepest decline, with its share price falling 4.61 percent to SR10.14.
On the announcements front, Scientific & Medical Equipment House Co. said it had been awarded a contract valued at SR260.98 million by the Ministry of Human Resources and Social Development to supply uncooked food materials and catering items to beneficiaries at the ministry’s residential branches across the Kingdom.
The project scope also includes providing cooked meals to selected anti-begging offices over a 24-month period, according to a Tadawul statement. The company added that the financial impact of the contract will begin in the fourth quarter of this year.
It said further developments would be disclosed in due course after all relevant parties sign the final contract and a copy is received.
Shares of Scientific & Medical Equipment House Co. edged up 0.31 percent to SR32.44.
Separately, Dr. Soliman Abdel Kader Fakeeh Hospital Co. and its subsidiaries signed an agreement with Oloof Development Co., a wholly owned subsidiary of Jazan Municipality, to lease a strategic land plot in Jazan City for SR217.99 million.
According to a Tadawul statement, the land, which spans 34,581 sq. meters, will be used to develop an integrated healthcare facility under a 50-year lease.
The company said the financial impact of the agreement is expected to begin once the medical facility is completed and becomes operational.
Shares of Dr. Soliman Abdel Kader Fakeeh Hospital Co. fell 1.92 percent to SR33.74.
