China bets on Myanmar status quo for gas deals
China bets on Myanmar status quo for gas deals
Reuters Published: September 30, 2007, 00:33
Hong Kong: China struck an energy coup with a pipeline deal in Myanmar earlier this year but its cosy relationship with the ruling generals could come back to haunt it if the investment environment opens up, analysts say.
The military government of the impoverished southeast Asian state gets most of its export earnings from selling gas to Thailand and it has stepped up a drive to attract more foreign investment in the last three years.
But a week of unrest, in which at least 9 people died when troops broke up the biggest anti-government demonstrations in nearly 20 years, has raised the question of what might happen if the military government loses its grip on power.
“If the junta is overthrown -and that’s a very big if – clearly that might have an impact on China because it has invested a lot over the last 20 years,” said Ian Storey, a fellow at the Institute of Southeast Asian Studies in Singapore.
“We’re well into the grounds of speculation but if a more pro-Western government came into power they might seek to limit China’s involvement. China is an important ally of Burma and it won’t want to lose that.”
Myanmar is wedged between China and India, making it a small but juicy prize in a furious battle for energy between the world’s two most populous nations.
Its proven gas reserves amount to only 0.3 per cent of the world’s total, but a lack of exploration means the true figure could be much higher.
Chinese oil giant Petro-China appears to have won the last round by snatching a gas pipeline agreement from under India’s nose. It has sweetened the deal by talking to Myanmar about running an oil pipeline along the same route.
Such a pipeline would ease the passage of Saudi crude bound for China by cutting out the congested Malacca Straits, but would be dependent on the goodwill of the regime in Myanmar.
While China has been quietly trying to build ties with democratic and ethnic groups in Myanmar in recent years, Beijing has remained a steady friend to the ruling generals.
“If there was a change in government, there could be a rethink of the gas pipeline to China,” said Sanjeev Prasad at Kotak Securities.
Observers are not predicting an imminent change of government in Myanmar, but many other countries have experienced unexpectedly rapid changes of leadership in the last 20 years.
For the moment, the country’s biggest investors like Total and Thailand’s PTTET as well as South Korea’s Daewoo International Corp, operator of a multi-billion-dollar gas project under way, say it’s business as usual.
Kuwait shortlists firms for new refinery
Kuwait shortlists firms for new refinery
Reuters Published: September 30, 2007, 00:33
Kuwait: State refiner Kuwait National Petroleum Co (KNPC) yesterday announced firms pre-qualifying for the construction of the state’s planned 615,000 barrels per day (bpd) Al Zour refinery.
KNPC said last week Kuwait had approved a budget of about $14 billion for the construction of the refinery, the Middle East’s biggest, more than twice an initial cost estimate.
The tender was split into several construction packages for which the following firms pre-qualified, according to a KNPC statement published in local daily Al Qabas.
Tender details
A consortium of Italy’s Snamprogetti and Korea’s Hyundai Engineering & Construction, consortium of Japan’s JGC and Korea’s GS Engineering & Construction and consortium of Technip Italy, Foster Wheeler and Korea’s SK Engineering & Construction qualified for crude distillation units, sulphur removal and units to treat naphtha, kerosene and diesel.
For hydrogen production and recovery, sulphur industrialisation, units to treat diesel, etc, those qualified include a consortium of Technip Italy and Foster Wheeler Energy and Snamprogetti, consortium of Hyundai Engineering & Construction and Daelim Industrial Co, GS Engineering & Construction, WGI Middle East, SK Engineering & Construction and Petrofac International.
For tank storages, those qualified include consortium of CB & I and CBI Eastern Anstalt, Daelim Industrial, GS Engineering & Construction, SK Engineering & Construction and Petrofac International.
Fasting for the first time
Fasting for the first time
By Ruqya Khan, Gulf News Report Published: September 30, 2007, 00:33
Growing up means different things to different children. Some feel grown up when they are given responsibility, while others feel content when they are allowed to interact more closely with their elders. But what exactly is growing up all about? It’s a process of learning and understanding day to day life and accounting for one’s actions.
Though there is no set age to begin fasting, it becomes compulsory for every Muslim, male or female, after he or she reaches puberty. Often children as young as seven choose to fast.
Though they may not fast the entire month, this practice strengthens them mentally and spiritually.
Excited
Al Hajjaj Bin Habib is 9. He is in grade 4 at Al Hikmah Private School in Ajman. This year was his first fasting experience. He said: “I am very excited about fasting as all my classmates are fasting as well. I felt so proud of myself for having hung on till iftar time. As a means of encouragement I was given a monetary reward to save in my piggy bank and it was the ultimate treat. Last year I tried to fast, but was only able to fast half a day.”
“I’ve learnt that with intention and a strong will, desires can easily be defeated. Now I understand the pain of hunger and want to share the extra food left over with the poor at Al Ihsan Charity Centre.”
Ten-year-old Sidra Momin agreed. “On other days I would not feel hungry. My mum would have to force me to eat, but when I fasted I knew what the needy feel. 
Effort
“Now I don’t take my blessings for granted. It helped me realise how much effort my parents put into the day when they fast. I now enjoy helping my mother set the table, arrange the fruits, etc, at iftar time. It doesn’t feel like a chore anymore,” said Sidra.
“In Ramadan everything and everyone is different. We visit places like parks and mosques instead of the usual routine of spending time in the malls. My parents are more relaxed, dad comes home early and we get to meet with the family and friends more often during iftar gatherings. I like that. Plus, I get to select my clothes for Eid, which is great!”
Kahkashan Kareem, a grade 4 student at the Gulf Indian High School, said, “I think fasting makes us better people. We are able to wait from suhour to iftar to eat and drink. Plus, when I’m fasting I make sure I don’t get angry at my sisters – Safoora, 6, and Darakhshan, 12. In fact, my elder sister encourages me to be punctual for my prayers. She supports me and keeps me away from the mischief of my little sister.
“I think Ramadan is exciting. The relatives get together each weekend and I like to exchange ideas with my cousins about how we fasted, what we did at school, etc. I also enjoy the iftar spread – my favourite is chocolate juice. Mummy makes this by adding milk, cream and sugar to melted chocolate ice cream. It’s really yummy and easy to make.
“But that’s not all. We even get to go to the mosque for special Tharaweeh prayers. Sometimes I even attend dars (religious lectures) with my mother and aunts. Here the teacher tells us about the simple rules to follow and it’s said like stories from the Quran or Hadith (sayings of the Prophet Mohammad PBUH). It’s never boring.”
Patience
Mohammad Yousuf and Mohammad Khalid are cousins studying at Al Wataniya Private School. They started fasting on the first day of Ramadan. Yousuf is in grade 5.
He said, “Fasting takes a lot of patience. The first day I was miserable. I could not tolerate having my younger siblings come close to me after they had just eaten. I think my sense of smell had suddenly become stronger because I could smell what they ate or drank and it tempted me a lot.
But I was happy that I made it through the day just like my younger cousin, Khalid.”
Khalid added, “As usual we went to the grocery store that day and bought the goodies we liked, but didn’t eat them until after iftar time. Each year during Ramadan the whole family gathers at my uncle’s house to break the fast. On my first fast it felt really nice when everyone congratulated us. We have been promised a surprise gift after two weeks of fasting, I can hardly wait.
“Most of my friends in school are fasting so I don’t feel out of place during recess. I think school days are easier to go by without food and drink because there is a fixed schedule, we study, play, come home tired, rest and then ready ourselves for the evening meal with the family. But on weekends there is little to do except smell the aroma of dishes in the kitchen.”
Did you know?
Fasting is compulsory for all Muslims once they reach puberty.
However, many children, some as young as 7, also fast during Ramadan.
They may fast only a few days or a few hours.
Children can also attend prayers at the mosque and religious lectures with their family members.
UAE details Nov oil export cut due to maintenance
UAE details Nov oil export cut due to maintenance
(Reuters)26 September 2007
TOKYO/SINGAPORE – Abu Dhabi National Oil Co (ADNOC) told at least one customer on Wednesday it would halve term November exports of its three offshore crudes due to field work, blunting the impact of OPEC’s planned output rise.
ANDOC, the main oil producer in OPEC-member the United Arab Emirates (UAE), notified at least one refiner in Japan that it was reducing supplies of its Umm Shaif, Lower Zakum and Upper Zakum crudes by about half, a trading source told Reuters.
The notice was the first to confirm the extent to which planned maintenance would affect exports from the emirate, which pumped about 2.6 million barrels per day (bpd) last month. Two other Japanese refiners and one in Southeast Asia had yet to receive the note.
ADNOC had said on Sunday that oilfield maintenance would reduce oil production by 600,000 bpd in November.
Oil traders had earlier said as much as 810,000 bpd of output could be shut in for two to three weeks during the peak of the maintenance.
The three fields, in which Exxon Mobil Corp, Total and BP hold equity stakes, produce a total of just over 1 million bpd, according to recent estimates.
Production at the UAE’s biggest field, onshore Murban, will not be affected, the oil trader said. BP, Royal Dutch Shell, Total and Exxon Mobil are partners there.
The trader added that ADNOC had been selling extra supplies to help its customers build up stocks ahead of the maintenance, which comes just as refiners are bracing for peak winter demand, particularly in Japan, the world’s second-biggest importer, which relies on UAE crude for nearly a quarter of its supplies.
“ADNOC’s commitments to its term clients are all met by advancing the majority of liftings, and some deferments that have been re-scheduled by mutual agreement,” the state oil company said on Sunday in a statement.
Maintenance at the country’s Ruwais refinery from late December through February may also allow the UAE to free up more supplies for export following the November work.
The supply reduction in the three grades had been expected for months and traders had earlier identified the three fields as the 530,000-bpd Upper Zakum, the 250,000-bpd Lower Zakum and the 280,000-bpd Umm Shaif.
Saudi Arabia persuaded the Organization of the Petroleum Exporting Countries to raise output by 500,000 bpd at a meeting earlier this month in a gesture to consumer nations worried by the economic impact of record-high oil prices.
U.S. crude for November delivery was up 23 cents at $79.76 a barrel by 0723 GMT, off a record high of $83.90 hit last Thursday.
Give it a thought before signing up
Give it a thought before signing up
By Rania Oteify, Features Editor Published: September 28, 2007, 23:14
Please sign here, and here and there. Do you hear this request often? I guess you do if you are financially active, i.e. opening bank accounts, requesting credit cards or finance, or just filling forms.
But as common as it is, the request is usually alarming for me. It is not that I don’t sign my credit card slips with only a quick glance at the price, but in different contexts, I do require longer thinking periods which may extend to days. Why? Because a signature, in a way, formalises or legalises a document even in non-financial situations. I don’t see the argument that you signed a document without reading it standing in a court of law. So, be patient when you’re asked to sign and think of the consequences.
Face value
In many banks, whether local or international, there are common practices which fall in a grey area, and can get you in trouble. One of them is asking clients to sign blank cheques to secure loans and credit cards.
You may be right when you think: “This is a reputable bank with thousands of clients, international branches and much bigger business than mine. Who am I to ask them to change a policy?” But you can always ask, and if they don’t accommodate your request, you’ve the option of walking out of the deal. But if you decided to go along with the trust line that the bank isn’t in the business of tricking people, try to keep it to the absolute minimum. After all, remember that your signature on a blank cheque will grant you credit now, but in case of default, the bank can fill this cheque with the outstanding amount and penalties in addition to the accumulated interest.
Sign now, fix it later
Everyday, we sign documents which may not be as serious as financial ones but they are still sort of contracts which may bring not so nice surprises later on your credit card statements. For example, a friend who was renting a car in Dubai told me the agent asked for all the normal stuff: photocopies of his passport, driving licence and a credit card authorisation. Then she handed him the form for the payment which quoted a price Dh600 higher than the agreed price. Her excuse was: This document doesn’t matter, we will charge your card the correct amount. “So why do you ask me to sign a document that doesn’t matter?” he furiously asked. Here she decided to contain his anger. “No problem. Please sign here and we will fill it with the correct numbers later,” she said, pointing to a blank document.
He found it pointless to argue with her, so he collected his documents and walked out. He definitely did the right thing. Why should he willingly sign a document which quotes the wrong price or another with no price at all while car rental companies are aplenty? Even though credit card transactions can be negotiated and voided, he would not be in a good position since they have a document carrying his signature.
For my loved ones
Co-signing on other people’s credit documents isn’t a good idea. However cruel it might sound to advise someone to say no to a friend or a child, it may be the right thing to do. People do default on their loans – check the statistics. This doesn’t mean you should not consider helping them if you can. But take your time to find out whether you can afford it or not. An additional car payment of Dh1,000 a month for a car that you’re not driving may not be a good surprise. If you do want to help and are willing to bear the burden if things don’t work out for your loved ones, then go ahead and sign here, and here and there.
A signature, in a way, formalises or legalises a document. Be patient when you’re asked to sign and think of the consequences.
Adnoc notifies on supply cut
Adnoc notifies on supply cut
(Reuters) 27 September 2007
TOKYO/SINGAPORE — Abu Dhabi National Oil Co (Adnoc) told at least one customer yesterday it would halve term November exports of its three offshore crudes due to field work, blunting the impact of Opec’s planned output rise.
Adnoc, the main oil producer in Opec-member the United Arab Emirates (UAE), notified at least one refiner in Japan that it was reducing supplies of its Umm Shaif, Lower Zakum and Upper Zakum crudes by about half, a trading source said.
The notice was the first to confirm the extent to which planned maintenance would affect exports from the emirate, which pumped about 2.6 million barrels per day (bpd) last month. Two other Japanese refiners and one in Southeast Asia had yet to receive the note.
Adnoc had said on Sunday that oilfield maintenance would reduce oil production by 600,000 bpd in November.
Oil traders had earlier said as much as 810,000 bpd of output could be shut in for two to three weeks during the peak of the maintenance.
The three fields, in which Exxon Mobil Corp, Total and BP hold equity stakes, produce a total of just over 1 million bpd, according to recent estimates.
Production at the UAE’s biggest field, onshore Murban, will not be affected, the oil trader said. BP, Royal Dutch Shell, Total and Exxon Mobil are partners there.
The trader added that Adnoc had been selling extra supplies to help its customers build up stocks ahead of the maintenance, which comes just as refiners are bracing for peak winter demand, particularly in Japan, the world’s second-biggest importer, which relies on UAE crude for nearly a quarter of its supplies.
“Adnoc’s commitments to its term clients are all met by advancing the majority of liftings, and some deferments that have been re-scheduled by mutual agreement,” the state oil company said on Sunday in a statement.
Maintenance at the country’s Ruwais refinery from late December through February may also allow the UAE to free up more supplies for export following the November work.
The supply reduction in the three grades had been expected for months and traders had earlier identified the three fields as the 530,000-bpd Upper Zakum, the 250,000-bpd Lower Zakum and the 280,000-bpd Umm Shaif.
Saudi Arabia persuaded the Organisation of the Petroleum Exporting Countries to raise output by 500,000 bpd at a meeting earlier this month in a gesture to consumer nations worried by the economic impact of record-high oil prices.
U.S. crude for November delivery was up 23 cents at $79.76 a barrel by 0723 GMT, off a record high of $83.90 hit last Thursday.
Abu Dhabi set to take giant leap forward
Abu Dhabi set to take giant leap forward
By Himendra Mohan Kumar, Staff Reporter Published: September 28, 2007, 00:00
Abu Dhabi: The imminent arrival of Hollywood entertainment giant Warner Bros in Abu Dhabi with a theme park is in line with the positioning of the emirate as a “world-class place that has it all” and over time, tourist arrivals to the UAE are expected to see strong growth, market analysts told Gulf News.
“This is yet another feather in the cap for Abu Dhabi, after the announcement of Formula One, arrival of top world-class universities, setting up of industrial zones and a museum from France, things that tourists love to see,” said one analyst.
On Wednesday in a multi-billion dollar deal, real estate developer Aldar Properties PJSC, one of the largest companies by market capitalisation in the UAE, US-based Warner Bros and the Abu Dhabi Media Company forged a long-term strategic alliance in New York aimed at Abu Dhabi’s digital transformation.
“Abu Dhabi will soon become like Dubai, a very attractive place to live in for professional people with all the goodies available in one place. This would also give a boost to the real estate projects in the UAE, particularly in Abu Dhabi,” said another analyst.
Shortly after the deal was signed, Aldar chairman Ahmad Ali Al Sayegh told Gulf News that the proposed money committed would be invested over the next five years.
Aldar and Abu Dhabi Media Company together will invest 50 per cent of it, while the remaining 50 per cent will be invested by Warner Bros.
“We are going to build an integrated entertainment and media infrastructure that will be respectful to our culture and values,” said Al Sayegh. “This is a regional partnership that will cover the entire Middle East.”
In a joint statement, Aldar, Warner Bros and Abu Dhabi Media said their alliance covers the creation of a theme park and hotel and jointly owned multiplex cinemas, as well as the formation of a joint venture fund to finance films and to develop and publish video games, heralding the growth of new media in the national capital.
Additional areas
Beyond the businesses specifically outlined in Warner Bros’ initial agreement with Aldar and Abu Dhabi Media Company, the companies will explore additional areas in which they can work together, including ventures such as production facilities, digital content distribution and retail opportunities in the Gulf.
Aldar will coordinate and oversee physical construction of both the theme park and hotel. Groundbreaking for the theme park and hotel is expected in 2009.
Warner Bros International Cinemas will develop, design and manage jointly owned multiplex cinemas in Abu Dhabi to be built by Aldar. Initial plans call for the construction of four cinemas in Al Ruwais, Al Ain, Yas Island and the Central Market in Abu Dhabi, which will be Warner Bros-branded and themed, featuring iconic characters and titles from Warner Bros’ classic and contemporary film libraries. Groundbreaking for the multiplex cinemas at the Central Market Development has taken place and they are due to open in the first quarter of 2010.
WBIC currently operates cinemas in Italy and Japan and manages the Mann Theatres chain in the United States.
The film production fund, a 50-50 venture, calls for the development and production of mutually agreed-upon, broad-appeal films, with Warner Bros retaining worldwide distribution options/rights. Separate from this arrangement, Warner Bros Pictures International will work with Abu Dhabi Media Company to develop and produce a slate of Arabic-language films for local and pan-Arabic distribution.
Educating children key to ending cycle of poverty, says Maitha
Educating children key to ending cycle of poverty, says Maitha
By Zoi Constantine, Staff Reporter Published: September 28, 2007, 00:00
Dubai: Shaikha Maitha Bint Mohammad Bin Rashid Al Maktoum has urged Dubai’s diverse, multi-cultural communities to unite under the banner of ‘Dubai Cares’ to contribute to the goal of educating 1 million children.
The call came as the amount raised for the initiative launched on September 19 by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, topped Dh300 million.
Among the latest to donate are Dubai Contracting, which yesterday pledged Dh500,000, and Ahmad Siddiqui and Sons who donated Dh1.5 million to the six-week campaign at an event hosted by Shaikha Maitha, on Wednesday night. 
During the event she also announced that she will host the ‘Dubai Cares’ Walkathon, scheduled for October 19 to be attended by members of the public as well as sporting personalities and well-known names from the world of art and culture in the UAE.
“Dubai Cares is an opportunity for all of us – regardless of our race, religion or ethnic background – to bring together the different communities in Dubai’s multicultural landscape to support a common cause and contribute to a greater purpose,” Shaikha Maitha said during her address before the diverse crowd at the Dubai World Trade Centre on Wednesday evening.
“We recognise education as the best long-term solution to poverty alleviation in the developing world -educating children, especially girls, is the key to ending the global ‘cycle of poverty’.”
Present at the event to launch Shaikha Maitha’s participation were various sports personalities, artists and actors, including Abdullah Al Khair, who pledged their support for ‘Dubai Cares.’
Abu Dhabi congestion looms amid taxi shortage
Abu Dhabi congestion looms amid taxi shortage
By Samir Salama, Bureau Chief Published: September 28, 2007, 00:00
Abu Dhabi: As residents complained of an acute shortage of taxis in Abu Dhabi, a think tank has warned that the problem will worsen the traffic congestion in the city.
“A shortage in taxis will simply mean more and more people will opt to buy their own cars to rid themselves of the daily suffering of finding a cab,” said a report by the Emirates Centre for Strategic Study and Research.
The report expected that the implications of the problem will increase as time passes and that this will be reflected in worsening gridlocks.
This [predicted] increase in the numbers of cars happens at a time when the government is supposed to take measures to reduce them or at least maintain the present number, according to the report.
Statistics of the Abu Dhabi Chamber of Commerce and Industry put the increase in the number of new cars registered for the first time in Abu Dhabi at 380 per cent between 2002 and 2005, while the increase at the UAE level during the same period was 230 per cent.
A whopping 152,000 new cars were registered for the first time in Abu Dhabi in 2005 accounting for 43 per cent of the total number of cars registered across the country in the same year, compared with 40,000 cars registered in the city in 2002.
This makes the average annual growth in cars registered in Abu Dhabi around 95 per cent.
According to the ECSSR’s report, the curve of growth in the number of cars registered in the capital is ascending steeply, especially if the number of used cars registered in the city is taken into consideration.
The report expected that implications of the shortage in cabs will unfold within six months. Residents in Abu Dhabi have complained of queues being formed at bus stops, malls and in major streets everyday particularly at peak hours.
Many say they are compelled to wait for taxis for a long time in the scorching summer heat, with cars belching fumes and fraying tempers.
Refusal
Residents said even if they come across cabs, drivers refuse to take certain routes. Sahar Mohammad, 25, an Egyptian housewife, said for a 10- minute journey she had to wait for almost 60 minutes on Hamdan Street to take her children to school.
“Taxis are not available and most of the taxi drivers are very rude and arrogant and simply refuse to drive to my destination,” she said.
Varghese A., suggested that a proper public bus transport system like that in Dubai would help solve this problem. There is a lot of potential for this kind of city bus service.
Other residents complained that taxis are cashing in on people who had to move to suburbs such as Mussafah and Baniyas to escape rising rents.
Khalid Saleh Al Rashidi, general manager of the Taxi and Hire Car Regulation Centre, said there is no shortage of taxis in the city.
He told Gulf News the root cause of the problem is taxi drivers selectively taking routes which give them more revenue.
“The first batch of a new taxi fleet will hit the roads in November this year,” he said.
* 380% increase in the number of new cars registered in Abu Dhabi between 2002 and 2005.
* 230% increase in the number of new cars registered in the UAE between 2002 and 2005.
* 152,000 new cars registered in Abu Dhabi in 2005.
* 95% average annual increase in the number of cars registered in Abu Dhabi.
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