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FINANCIAL NEWS
Abu Dhabi’s 2010 oil income grows to USD75.6b
29 Nov 2011
(MENAFN) Abu Dhabi Department of Economic Development (DED) said that last year, the emirate’s oil income grew by USD24 billion from 2009’s USD51 billion, to USD75.6 billion, reported Emirates 24/7.
The DED added that the increase resulted from high oil prices and a surge in Abu Dhabi’s oil output, however, the earnings remained less than 2008’s USD91.9 billion.
It also said that the increase in oil income boosted the capital’s nominal gross domestic product (GDP) by 15.8 percent to around USD168.8 billion, compared with USD145.7 billion recorded in the previous year.
It is worth noting that although oil output in 2010 grew; however, gas output fell to about 4,847 million cubic fee per day, compared with around 5.674 million cubic feet per day a year earlier.
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