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Opec crude oil supply fell in August to the lowest since November 2009 as reduced supplies from Nigeria, the UAE and Iraq offset increased output in Angola, a Reuters survey showed.

Supply from the 11 members of the Organization of the Petroleum Exporting Countries with output targets, all except Iraq, averaged 26.83 million barrels per day (bpd) last month, down from 26.95 million bpd in July, according to the survey of oil companies, Opec officials and analysts.   

The decline mainly reflects output disruption in Nigeria and Iraq rather than an Opec effort to improve adherence to output targets. Analysts say higher compliance is unlikely without a slide in oil prices.

"Opec would defend the floor of its informal $70 to $80-a-barrel range with cuts in actual output," said Mike Wittner, global head of oil research at Societe Generale. "But in order for that to happen, prices would need to move significantly below $70 and look like they are going to stay there for a while."    

Opec, source of more than a third of the world's oil, has left its output ceiling unchanged for more than a year since announcing a record supply curb of 4.2 million bpd in December 2008 to combat lower demand and prices.

Supply from the Opec-11 was 1.99 million bpd higher in August than their target of 24.84 million bpd, the survey found, meaning the group achieved 2.21 million bpd of the supply curbs.
 That left compliance at 53 percent, up 3 percentage points from July.  It peaked at 81 percent in April and March 2009, according to Reuters estimates.
   
Total Opec supply including Iraq was down 140,000 bpd to 29.09 million bpd, the lowest since November 2009 based on Reuters surveys. - Reuters      

Property developers in Qatar are learning lessons from Dubai's sharp real estate and development crash by slowing and rethinking projects, a move which will help property prices recover next year, analysts said.

Qatar developer Barwa Real Estate said on Tuesday it has delayed its QR30 billion ($8.3 billion) Al Khor project due to sluggish market conditions, the latest sign that the world's largest exporter of liquefied natural gas is grappling with oversupply.

The project, a mixed-use city north of Doha, was originally expected to be completed in 2015, but a company spokesman declined to give a new completion date.

'This, coupled with what they saw in Dubai, caused developers to put the brakes on certain developments,' said JP Grobbelaar, director of research and advisory at Colliers International, referring to oversupply in Doha's West Bay, the capital's new business city.

House prices in Qatar, down about 30 per cent since the crisis, are seen falling further by 10-15 per cent in 2010 before recovering next year as property companies better balance supply to the market, said Patrick Rahal, senior analyst at investment bank The First Investor in Doha.

In contrast to Dubai, Qatar did not witness the same flawed speculative building model which imploded and caused house prices to tumble some 55 per cent from their peaks.

Dubai, which overstretched itself building ambitious real estate such as islands in the shape of palms, was the Gulf Arab region's worst hit property market, with billions of dollars worth of projects put on hold or cancelled.

House prices in Dubai are set to fall a further 10 per cent this year, with prices recovering in 2012, a Reuters poll in July showed.

'There is oversupply in Qatar, especially in the commercial segment and so it is a sensible move to learn lessons from Dubai,' said an analyst who declined to be named.

'Delaying projects or rethinking them is not all that bad for Qatar,' the analyst said.

Barwa, Qatar's second largest developer by market capitalisation, is an affiliate of the country's sovereign wealth fund, the Qatar Investment Authority, which holds a 45 per cent stake in the company. – Reuters

Hilton Worldwide, the leading global hospitality company, has appointed Rudi Jagersbacher area president, operations, Middle East and Africa, effective January 1, 2011.

Jagersbacher will replace Jean-Paul Herzog, who will retire from Hilton Worldwide at the end of the year after 40 years of service.

Ian Carter, president, global operations and development, said: “Jean-Paul has been an important part of the success of our company for the last four decades and we wish him well in his retirement.”

“We are delighted that someone of Rudi’s talent, depth of experience and knowledge of the market will be stepping into the role,” he added.

Jagersbacher is currently area vice president for operations in the Benelux, Nordic and Italy. He will remain in his current post until he assumes his new position. – TradeArabia News Service

The Claridges, a leading luxury hotel in Delhi, will host the World Travel Awards Asia and Australasia Ceremony in October.

The event, the most important night of the year for Asia and Australasia’s tourism industry, will demonstrate just why the region is experiencing unprecedented uplift, regardless of the challenging global economic environment.

Graham E Cooke, founder and president of World Travel Awards, described as the ‘Oscars’ of the global industry, said the event is a brilliant barometer of the region’s phenomenal success.

“International tourism is slowly gaining momentum after extremely difficult times last year,” he said. “What is remarkable though is that according to the latest official figures, Asia and the Pacific is leading the world.”

“The region was up an incredible 10 per cent in the first two months of the year, an indication of the industry’s resourcefulness, drive and determination to succeed.”

“World Travel Awards was established 17 years ago to drive up standards of customer service and overall performance and this year’s winners will be an excellent business model for others to follow. The hotel is an ideal venue for such an event, combining both a business and luxury resort in one,” he added.

Peter J Leitgeb, president and CEO, The Claridges Hotels & Resorts, said: “It is our privilege to be chosen as the venue for the first ever World Travel Awards to be held in India.”

“Today, India is on everyone’s radar. It is reiterated by the number of visitors the hotels are seeing in this part of the world. Such volume is practically unheard of anywhere else.”

“In keeping with the buoyant economy The Claridges Hotels & Resorts too has seen significant growth in occupancy and revenue over the years. Choosing New Delhi as the destination for World Travel Award Asia and Australasia further reinforces India as ‘the’ destination which no one can today overlook,” Leitgeb said.

Viewed as the ultimate achievement for any Asian or Australasian company, more than 80 travel brands are competing to be the best.

Online voting is now underway at worldtravelawards.com and nominees are campaigning hard with agents and industry executives to win support, said a statement.

Winners of the regional ceremony will then go on to compete in World Travel Awards 2010 final in London on November 7, immediately before World Travel Market, which will run from November 8 to 11.

Consumers are increasingly using the winners list as a reliable resource when choosing a holiday, the statement added. – TradeArabia News Service

The Rixos Premium Belek, Antalya on the Turkish Riviera has been chosen to host Europe’s most important travel and tourism awards.

World Travel Awards, described as the ‘Oscars’ of the travel industry, will hold the Europe Gala Ceremony on October 1.

Voting for the leading travel companies, operators and destinations ends on September 10.

“Austerity measures are beginning to bite which means that the World Travel Awards European Gala Ceremony is even more hotly contended than ever”, said Graham E Cooke, founder and president.

“There is a great deal at stake here for all the nominees and winning one of the awards will help give them a much needed competitive edge.”

World Travel Awards, now in its 17th year, is universally recognised as a major champion of excellent customer service, encouraging and inspiring products and services to improve business performance and innovation.

Categories include everything from airlines, hotels, and spas to cruise lines, car rental and golf resorts. There are European overall categories as well as categories for more than 50 countries.

Basak Erel, senior vice president brand management, Rixos Hotels, said that the occasion was not only critical to the development of the European industry but also momentous for Turkey which has been chosen to host the evening.

He also stated that the Rixos Premium Belek, awarded the title of ‘Turkey’s Leading Hotel’ in 2008 and both ‘Turkey’s Leading Hotel’ and ‘Turkey’s Leading Beach Resort’ in 2009, is proud to host such a magnificent event for the most prestigious awards in the tourism and travel industry.

One of the most competitive categories is always Europe’s Leading Airline and in contention this year are Air France, Alitalia, British Airways, Iberia, KLM, Lufthansa, SAS Scandinavia Airlines, Swiss International Air Lines, TAP Portugal and Turkish Airlines.

Dr Temel Kotil, CEO of Turkish Airlines, sponsor of the event, said “Our goal is to make sure that passengers flying to Turkey will experience the high quality of service and the overall excellence of Turkish Airlines on our planes. We open the door for new privileges in the sky for the utmost comfort of our passengers.”

“As Turkish Airlines expands its market share in the world airline industry each year, it is also attracting potential passengers into the market with the unusual products and marketing strategies it has developed, offering them the possibility of safer, cheaper, more comfortable transportation,” he added.

Consumers use the list of winners as a reliable guide and means of reassurance when choosing their holiday, a statement said.

Companies and destinations that finish up on the winners podium, receive extensive commercial benefits and global profile.

Winners will be in the final of World Travel Awards in London on November 7, immediately prior to World Travel Market, which will run from November 8 to 11 in London. – TradeArabia News Service

Entertaining and educational sight-seeing over the four-day Eid period are among the activities laid out in the 2010 Ramadan and Eid programme of Oman’s Ministry of Tourism.

The programme, which will run until September 9, will see children visiting heritage locations in Oman’s interior region such as the Cultural Village in Bahla, Marah Land, Sawadi Beach, and Wadi Andam.

Family-themed events such as group Iftars, cultural and religious contests such as Quran memorization, and competitions in sports such as soccer and table tennis are also included in the Ramadan and Eid calendar.

“Last year’s Ramadan and Eid agenda was highly successful, so we are making sure that we have the right facilities, amenities and support for local businesses to repeat if not surpass 2009’s results,” said Gamal Sadek, Director, Sultanate of Oman Ministry of Tourism Representative Offices, GCC.

“This season we shall once again fulfill our social responsibilities while supporting Oman’s overall economic growth. We call on the local business community to partner with us in securing a larger number of tourists while showcasing Oman’s unique heritage,” he added.

The Oman government expects such events to accelerate tourism development and exceed the projected 3 per cent share of the tourism sector to the local GDP by the end of Oman’s five-year plan spanning 2011 to 2015.

The World Travel and Tourism Council has predicted that Oman’s tourism sector will post the highest growth in the Middle East and the third-highest in the world in 2010, a statement said. – TradeArabia News Service

Emirates, the international airline of the UAE, launched a new direct service to Dakar, the capital city of Senegal today (September 1), making it the airline’s 105th destination.

The new route, which is the only non-stop, scheduled passenger link, will cut current journey times between Dubai and Senegal by around the equivalent of an eight hour working day.

“Today marks a new chapter in air travel between the Middle East and West Africa. No more will passengers travelling to and from Senegal face long detours to Europe or other parts of Africa to reach their final destination,” said Nigel Page, senior vice president of commercial operations, Africa & the Americas.

“Instead, they can enjoy the convenience of a non-stop air link with Dubai, seamless connections to key centres in the Middle East, the Indian Sub-continent, Asia and the Far East through our state-of-the-art Terminal 3, a very competitive baggage allowance and the award-winning in-flight service for which Emirates is renowned."

An Airbus A340-300 is being deployed on the four-flights-a-week route, offering 12 seats in First Class, 42 in Business and 213 in Economy.

Page added: “Our new Dakar service is a further demonstration of Emirates’ commitment to investing in and supporting the development of its pan-African footprint.”

“Not only is the service already paying dividends through the creation of new jobs, such as our first Senegalese cabin crew and sales staff, but it will provide a significant long-term boost to trade and commerce in both the Middle East and West Africa,” he added. – TradeArabia News Service

Etihad Holidays, a division of UAE’s national airline Etihad Airways, has unveiled a series of special weekend short breaks, which include many of its top-selling destinations.

The deals are designed for residents living in the UAE, with many cities located within four hours of Etihad’s home-base of Abu Dhabi, in its popular destinations in countries such as Malaysia, Egypt, Jordan and Greece.

Short breaks start from Dh1,960 ($533.65) per person (based on two sharing a twin room) and include return Coral Economy flights from Abu Dhabi, two or three nights’ accommodation, breakfast and all applicable taxes, a company statement said.

“We are seeing more and more couples and families looking for a short break to a destination that’s close to the UAE,” said Peter Baumgartner, Etihad Airways’ chief commercial officer.

“With that in mind we have created this unique array of ten deals that includes the Mediterranean, the Levant, Middle East and the Far East. Again we have chosen a selection of our favourite hotels in these cities which we are sure will be a hit with customers,” he added.

Special deals in the Mediterranean include two night stays at the three-star Dorian Inn in Athens, the three-star Topkapi Hotel in Istanbul and the four-star Palm Beach Hotel & Bungalows in Cyprus.

Deals to Thailand, one of Etihad’s most popular destinations, include the four-star Imperial Queens Park in Bangkok.

Within the Middle East, breaks are on offer to Muscat in Oman, with stays at the Shangri-la, as well as the five-star Crowne Plaza in Amman.

In Lebanon, Etihad Holidays customers can stay at the Mozart Hotel, while the offers in Egypt include holidays at the five-star Maritim Jolie Vile resort in Alexandria and the four-star Pyramisa Suite Hotel in Cairo. – TradeArabia News Service

Revenue from Egypt's Suez Canal rose 7.3 per cent from July to $436 million in August, the chairman of the Suez Canal Authority said in a statement on Wednesday.

Revenue in July was $406.2 million.

The waterway is a vital source of foreign currency in Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad. – Reuters