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FINANCIAL NEWS
Arab region energy investments to drop
23 Dec 2014
(MENAFN) Arab region investments are expected decrease before picking up by the end of the current decade, according to a top energy consultant in the Arab Energy conference in Abu Dhabi, Gulf News reported.
“We estimate cumulative Arab energy investment to USD685 billion for the 5-year period of 2015-19. This level of investment, which is slightly lower than that of last year’s review, indicates a pause in trend,” said a senior consultant of Arab Petroleum Investments Corporation on Monday.
He confirmed that more than three-quarters of total capital investment projects is in seven countries among the region’s biggest holders of oil and gas reserves.
However, Saudi Arabia continues to top the ranking, its investment is expected to decline to USD127 billion. The most significant factors in this relative decline are the achievement of the major upstream oil development phase and diminished opportunities for further downstream mega projects.
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