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CCTV Script 10/07/17

— This is the script of CNBC's news report for China's CCTV on July 10, Monday.

Amongst low oil prices, ADNOC announced its plan on Monday, to seek an IPO for part of its services businesses – a growing trend in the Middle East.

Such a move seeks to boost its profitability and gain access to new markets during a period of prolonged low oil prices that has piled pressure on nations dependent on revenue from fossil fuel. Unlike Saudi Arabia, Abu Dhabi is not launching an IPO for the main holding company. It will merely offer minority stakes in some of its service businesses. On the other hand, Saudi Arabia and Oman are announcing plans to sell equity stakes in portions of their state-owned energy companies.

For Saudi, its IPO is not only the largest-ever but also expected to attract a valuation of $1 trillion to $2 trillion for Saudi Aramaco In comparison to her, Abu Dhabi's move can be considered as being more conservative.

Currently, it is uncertain which businesses ADNOC will take public or how much an equity sale would raise. However, with UAE being OPEC's fourth largest oil producer, this IPO would definitely have considerable impact. ADNOC also announced it wants to expand its model of partnering with international oil majors like Exxon Mobil and Royal Dutch Shell. As such we can see a growing trend of giant oil companies working hard to increase their profits and market penetration.

Yet at the same, another growing trend in Middle Eastern nations is to achieve UAE's economic vision for 2030 which is to reduce oil's dominant role in the economy, as those major oil producers Hope that in the near future, other industries, apart from oil, will be the main driver of revenue. Therefore, many Middle East countries are looking to diversify.

In hopes for other industries to be the main driver of revenue, many Middle East countries jumping into the bandwagon of opening up their state-owned resources. Should oil prices not revert back to its glorious days, oil companies will still be able to build global investments market based on oil. Moving on, oil prices are predicted to be bearish with market sentiments thinking that high oil prices are a thing of yesterday.

Furthermore, it is very likely by next year Saudi Arabia and other countries may lose their market share resulting in their inability to keep to production cuts promises.

[Robert Johnson, CEO, Eurasia Group] "I think the U.S. is going to have a massive energy export boom. I think that the demand signal from asia is going ot be very strong. And the supply signal from the US will be very strong as well. We mentioned Trump xx deregulation agenda to encourage more drilling on federal lands, less environmental problems, more pipeline construction."

Also, Qatar is one the countries facing enormous economic pressure.

[Qatar central bank] "Oh yes, we have a plan to run our domestic banking through our domestic activities and we have other alternatives and other strategies to meet all the Bank requirements. We meet almost every week to discuss all the matters. We have set so many strategies that, to fulfil all these kind of expected gaps."

Geopolitical crisis are also a catalyst to the oil market. Yet, it is undeniable that low oil prices have helped many countries tide through economically.

Brought to you by CNBC's Asia Headquarters.

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