02 Jan 2013
(MENAFN) The Abu Dhabi Department of Economic Development stated that the emirate’s oil sector surged by around 53 percent in 2011 to hit USD128.41 billion, compared with USD79.33 billion in 2010, reported Emirates 24/7.
The department said that the increase raised the hydrocarbon sector’s share of gross domestic product (GDP) to 58.5 percent in the year.
It added that in 2011, crude prices grew by almost 50 percent, reaching USD107.4 per barrel from USD77.4 a year earlier.
The total fixed capital formation (investment) in the industry climbed to USD13.28 billion in 2011 from USD2.12 billion in 2006, at an annual growth level of 44 percent.
It is worth noting that Abu Dhabi’s oil production in 2011 is estimated at nearly 2.5 million barrels per day (bpd), according to industry sources.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more