Fuad Al-Ansari: It is Abu-Dhabi-based oil refining company. We produce oil and gas and have offshore oil refining and gas processing. So I can say that our company realizes the whole process from the oil and gas extraction to the processing and refining. Our company Takreer has 2 refineries: one outside Abu-Dhabi and the second in the western region 550 km away. By the way, 'Takreer' is the Arabian for "refining".
Fuad Al-Ansari: You ask me? Heh heh. No, I'm the wrong person; I just represent the IT-function. But I think that the fair price for the crude is somewhere between $50 and $60. Actually now the prices are higher. Look at the gold price: it has increased. The same thing happens to everything, and causes inflation. 20 years ago you could buy a car of, say, 20% of today's price. With the resources it's the same. However, I think it is natural that the prices move on and go up.
Fuad Al-Ansari: Of course it is so. Our country benefits a lot due to the high energy prices. But concerning todays situation it doesn't make much of a difference because we import goods at a high price as well.
Fuad Al-Ansari: Well, if I'm not mistaken, we haven't seen much of their presence in the region in the recent history but the opportunity should be there. We have share holders from such companies as Exxon Mobil, Chevron, Shell, BP and all of them have stakes in our national oil companies. It's reasonable for us as we want foreign companies to bring new technologies into our country. The same could be with Russian companies. They have many technologies and definitely we would benefit from their investments in our oil and gas business as well.