Oil price volatility 'to hit maritime trade'
Dubai, April 2, 2012
Current oil price fluctuations may increase the costs of maritime trade in the short term, while piracy is another concern for the shipping industry, the UAE's Economy Minister Sultan bin Saeed al-Mansouri said on Monday.
'The oil price fluctuation...in the short term is not positive and will impact the maritime trade,' Mansouri told a trade conference in the UAE capital.
He also said Abu Dhabi's new Khalifa Port would become operational in the fourth quarter of 2012.-Reuters
More Energy, Oil & Gas Stories
- Market fearing oil shortages, says Saudi minister
- Iraq oil export plunges in Dec
- Fuel prices in Bahrain set to double by 2017
- Iraq's oil exports rise to 71.4m barrels in Nov
- MEE launches energy conservation contest
- TSL wins Jordan solar power contract
- SEC signs $366m loan for Jeddah power plant
- Kurdish oil exports 'only with Iraq approval'
- UAE launches energy conservation drive
- Rising Saudi fuel use 'bigger threat than shale'