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ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAE to cut fuel prices from September 1

  • Fuel committee announces latest price adjustments
  • Fuel prices have been up for the past several months

The United Arab Emirates will slash prices of petrol and diesel from September 1 amid the easing of Covid pandemic restrictions.

The UAE fuel price committee announced on Monday the new prices that will take effect from September 1, showing declines of approximately 1.2 percent for petrol and 2.9 percent for diesel.

Super 98 will be 2.55 dirhams per litre, down from 2.58 dirhams this month. Special 95 will drop from 2.47 dirhams to 2.44 per litre, while E-Plus 91 will fall from 2.39 dirhams to 2.36 dirhams per litre.

As for diesel, the price is pegged at 2.38 per litre, down by 2.9 percent from 2.45 dirhams in August

Fuel prices have been up for the past several months.

Global oil demand is forecast to rise by 5.4 million barrels per day in 2021 and return to pre-pandemic levels by the end of 2022, according to the International Energy Agency.

Demand slumped last year because of lockdowns and COVID-19 precautionary measures. Millions of motorists worldwide have returned to the roads after the easing of restrictions.