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FINANCIAL NEWS
UAE can reduce energy costs by USD3b
16 Feb 2012
(MENAFN) Oliver Wyman, the global management consulting firm, said that through executing energy efficiency technologies, the UAE could slash energy costs by USD3 billion annually by the year 2030, reported Gulf News.
The company added that by the targeted year, the country can save 51 percent of the energy used in the residential sector, 38 percent in the commercial sector and 11 percent in the industrial sector.
Moreover, a re-evaluation of the use of natural gas for crude oil output improvement by the state can help save a lot of energy and facilitate production of electricity at a lower price.
It is worth noting that growing population and increasing commercial and residential demand for electricity, mainly in the summer, forced Gulf nations to become significant oil consumers.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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