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FINANCIAL NEWS
Abu Dhabi invests USD13b in hydrocarbons sector in 2011
16 Nov 2012
(MENAFN) The Abu Dhabi Statistics Bureau stated that at the end of 2011, the emirate’s investments in its hydrocarbons sector hit USD13.06 billion, representing a rise of 11.5 percent from the previous year, reported Emirates 24/7.
The agency said that the gross fixed capital formation (GFCF) in the hydrocarbon industry increased to USD13.28 billion in the period, compared with USD11.90 billion at the end of 2010.
It added that 2011’s GFCF represented around a quarter of the total fixed capital formation of nearly USD54.16 billion.
It is worth noting that the UAE capital planned to invest over USD10 billion between 2005 and 2011 into crude oil expansion projects that target its onshore and offshore areas.
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