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ADNOC announces three new oil discoveries

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Abu Dhabi, May 19, 2022 (WAM) – Abu Dhabi National Oil Company (Adnoc) on Thursday announced three oil discoveries that will add more than 650 million barrels of oil to the country’s hydrocarbon reserves.In a statement, the Abu Dhabi-based group said the 500 million barrels of oil were discovered at Bu Hasa, Abu Dhabi’s biggest onshore field, with a crude oil production capacity of 650,000 barrels per day (bpd). The second oil find was in Abu Dhabi’s Onshore Block 3, operated by Occidental, with around 100 million barrels of oil in place.“In the third discovery, around 50 million barrels of light and sweet Murban-quality crude were found in Al Dhafra Petroleum Concession,” according to the Adnoc statement.

Adnoc produces almost all of the UAE’s oil and is spending billions of dollars on multiple development projects as it aims to expand its crude output capacity to five million barrels per day (bpd) by 2030, up from the existing four million bpd.

Energy analysts and market experts said these additional reserves will be ‘a sizeable boost’ to the UAE’s hydrocarbon reserves base standing well above 111 billion barrels of oil and 289 trillion standard cf of natural gas.

Earlier this year, Adnoc had announced a sizeable gas discovery in the Offshore Block 2 exploration concession operated by Italy’s Eni. Adnoc had said that the interim results from the block’s first exploration well indicated between 1.5 trillion and 2 trillion cubic feet of raw gas in place in multiple good quality reservoirs of the Jurassic exploration targets.

In December last, there was confirmation of a discovery of up to one billion barrels of oil equivalent (BBOE) at Onshore Block 4 Exploration Concession, which is operated by the Japanese combine INPEX/JODCO (Japan Oil Development Company). The oil discoveries were disclosed at the Adnoc board of directors meeting chaired by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office.

During the meeting, held at Adnoc headquarters in Abu Dhabi, Sheikh Khaled reviewed Adnoc’s performance and strategic targets and commended the company’s expanded approach to strategic partnerships, which have helped lead to new discoveries of oil, including a new find at Bu Hasa, Abu Dhabi’s biggest onshore field with a crude oil production capacity of 650,000 barrels per day (mbpd).

“The 500 million barrels of oil discovered from an exploration well in the Bu Hasa field has unlocked a new formation within the field, offering substantial additional premium-grade Murban oil resources. Bu Hasa is part of the Adnoc Onshore Concession and is operated by Adnoc Onshore,” according to the statement issued by Adnoc.

In Abu Dhabi’s Onshore Block 3, operated by Occidental, around 100 million barrels of oil in place were discovered, marking the second oil find in this concession. Occidental was awarded the exploration rights for Onshore Block 3 in early 2019.

“Around 50 million barrels of light and sweet Murban-quality crude was also discovered in the Al Dhafra Petroleum Concession, operated by Al Dhafra Petroleum, a joint venture between Adnoc, the Korea National Oil Company (KNOC) and GS Energy,” the statement said.

With 20 years of experience across print, TV, and digital journalism, Sudhashree is a seasoned media professional with a keen eye for news. A true news bug, she thrives on curating stories that capture the pulse of fashion, film, and all things trending. Deeply immersed in the fast-evolving media landscape, she swears by the power of social media to shape narratives and spark conversations.

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UAE announces new music fees for businesses: Who will have to pay from December

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Businesses across the UAE that play music for commercial purposes will face a new licensing system from December 2026, under rules announced by the Ministry of Economy and Tourism.

The new framework introduces licensing fees for a wide range of businesses and organisations that use music commercially, including restaurants, cafes, hotels, shopping malls, gyms and airlines.

Radio and television broadcasters, as well as concert organisers, will also fall under the new system.

The changes are outlined in the ministry’s new Collective Management in Music Guide, which sets out how music copyright and related rights will be managed across the UAE.

Which businesses will have to pay?

The new licensing requirements will apply to venues and businesses that commercially use music.

This includes:

Restaurants

Cafes

Hotels

Shopping malls

Gyms

Airlines

Radio stations

Television channels

Concerts and other commercial music events

The amount businesses pay will not be the same across the board.

Instead, fees will be calculated using a sliding-scale system, taking into account factors such as the type of music use and the size or nature of the business.

When do the new UAE music fees start?

The new licensing fees are scheduled to come into effect in December 2026.

Businesses that require a licence will receive a renewable one-year licence.

The fees will be collected through the organisations responsible for managing music rights, including the Emirates Music Rights Association and Music Nation.

These organisations represent rights holders across the music industry, including composers, songwriters, singers, instrumentalists, record producers and music publishers.

Why is the UAE introducing the new system?

The government says the new framework is designed to create a more structured system for managing copyright and related rights in the UAE.

According to the Ministry of Economy and Tourism, standardising licensing requirements and fees should help reduce copyright violations while bringing the UAE’s approach more closely in line with international practices.

For businesses, that means music used as part of the customer experience, whether in a restaurant, hotel, gym or another commercial setting, will be subject to clearer licensing requirements.

Who is exempt from the music licensing fees?

Not every organisation or event will be covered by the new commercial licensing requirements.

The guide identifies exemptions that include:

Schools and academic institutions

Non-commercial celebrations

National events

This means the new fees are primarily focused on the commercial use of music rather than private or educational settings.

New fund will support UAE music talent

The new framework also includes a support mechanism for the country’s music industry.

A Cultural Support Fund in the Field of Music will be established to provide financial assistance and technical support to artists, performers and producers.

Under the new system, 10 per cent of the fees collected will be directed towards the fund.

The money will be used to support emerging musical talent and help promote Emirati music internationally.

What does this mean for UAE businesses?

For businesses that regularly play music for customers, the biggest change will be the introduction of a formal licensing requirement and associated annual fees.

The exact amount will depend on how the music is being used and the characteristics of the business, rather than being a single flat charge for every venue.

Businesses that rely on music as part of their atmosphere or entertainment offering will therefore need to factor the new licensing requirements into their operations from December 2026.

At the same time, the government says the system is intended to ensure creators and other rights holders receive appropriate recognition and compensation when their work is used commercially.

Music licensing rules: 

Start date: December 2026

Licence period: One year, renewable

Applies to: Commercial users of music

Examples: Restaurants, cafes, hotels, malls, gyms and airlines

Also covered: Radio, television and concerts

Fee structure: Sliding scale based on use and business characteristics

Exemptions: Schools, academic institutions, non-commercial celebrations and national events

Music support fund: 10% of collected fees

For UAE businesses, the new rules mark a significant change in how commercial music use will be licensed, while the accompanying support fund is designed to put part of those revenues back into the country’s developing music sector.

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Indian tourists can get UAE visa fees waived for Abu Dhabi: Who qualifies

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Indian travellers planning a holiday in Abu Dhabi can now have the cost of their UAE entry visa covered under a new tourism initiative.

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has launched a limited-time programme for eligible Indian passport holders who book qualifying Abu Dhabi holiday packages through participating travel companies and online travel agencies.

The offer is available until October 31, 2026, during an initial pilot that will support up to 20,000 visas.

However, the offer comes with specific booking requirements. Travellers must book a package that includes both a return flight from India and at least three consecutive nights at an Abu Dhabi hotel.

Who is eligible for the free UAE visa offer?

The programme is aimed at Indian passport holders travelling from India to Abu Dhabi.

To qualify, travellers must book through a participating travel partner or online travel agency. The holiday package must include:

  • A minimum three-night stay at an Abu Dhabi hotel
  • A return flight from India
  • Booking through an eligible participating travel partner or OTA

The visa benefit cannot be claimed through an independent application. It is tied to qualifying holiday bookings made through the programme’s participating partners.

When is the Abu Dhabi free visa offer available?

The initiative runs from:

August 1 to October 31, 2026

DCT Abu Dhabi says the pilot programme will initially support up to 20,000 visas.

For eligible bookings, the tourism authority will cover the full cost of the UAE entry visa, potentially reducing the upfront expense for Indian visitors planning a trip to the emirate.

How does the visa fee waiver work?

Travel partners participating in the scheme have two ways to process the visa arrangements.

One option is to work with a DCT-appointed destination management company (DMC). In this case, DCT Abu Dhabi will pay the visa costs directly.

Travel companies can also use their existing DMC partners. Under this arrangement, DCT Abu Dhabi will reimburse Dh285 for each visa issued under the programme.

For travellers, the key point is that the benefit is handled through the participating travel partner rather than by applying for reimbursement independently.

Why is Abu Dhabi targeting Indian travellers?

India continues to be an important international source market for Abu Dhabi’s tourism sector.

According to DCT Abu Dhabi, the new programme is part of wider efforts to make the destination more accessible to Indian visitors while strengthening relationships with travel companies and improving connectivity between India and Abu Dhabi.

The initiative also aims to encourage visitors to spend more time in the emirate exploring its hotels, cultural attractions, entertainment options and natural landscapes.

Is the UAE visa completely free for all Indian tourists?

No.

The offer does not mean that every Indian passport holder automatically receives a free UAE tourist visa.

The visa fee is covered only when travellers meet the programme’s conditions and book through a participating travel partner or online travel agency.

The booking must include at least three consecutive hotel nights in Abu Dhabi and a return flight from India.

Travellers should therefore check with their chosen travel provider before booking to confirm that the package and visa arrangement qualify for the offer.

Abu Dhabi holiday offer: 

Who: Eligible Indian passport holders travelling from India
Destination: Abu Dhabi, UAE
Offer period: August 1–October 31, 2026
Hotel requirement: Minimum three consecutive nights
Flight requirement: Return flight from India
Booking requirement: Participating travel partner or OTA
Visa cost: Covered by DCT Abu Dhabi for eligible bookings
Pilot capacity: Up to 20,000 visas
Independent applications: Not eligible for the programme

For Indian travellers already considering an Abu Dhabi getaway, the initiative could make an eligible holiday package more affordable, but checking the participating travel provider and meeting all the booking conditions will be essential.

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Small businesses in the UAE now have tax relief until 2029

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Small businesses in the UAE with annual revenues of up to Dh3 million will continue to be eligible for Small Business Relief under the corporate tax regime until the end of 2029.

The Ministry of Finance said on Friday that Ministerial Decision No. 131 extends the period during which eligible businesses can benefit from Small Business Relief to cover tax periods ending on or before December 31, 2029.

The relief was introduced to help reduce the corporate tax compliance burden for smaller businesses and start-ups that meet the eligibility requirements.

Dh3 million threshold remains unchanged

The existing annual revenue threshold of Dh3 million, set under Ministerial Decision No. 73 of 2023, will continue to apply.

The relief applies to tax periods beginning on or after June 1, 2023 and, following the latest amendment, will remain available for subsequent tax periods ending on or before December 31, 2029.

Eligible taxable persons with annual revenue of up to Dh3 million can claim Small Business Relief, subject to meeting the conditions and requirements outlined in the corporate tax legislation.

The relief enables qualifying businesses to benefit from simplified corporate tax compliance requirements.

More time for small businesses

The extension provides eligible small businesses and start-ups with additional tax periods to benefit from the relief while continuing to meet the Dh3 million revenue threshold.

The Ministry said the decision is part of its efforts to support smaller companies and entrepreneurs, strengthen the business environment, and encourage sustainable growth and expansion.

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