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FINANCIAL NEWS
Energy investment in MENA to reach USD 430b
21 Feb 2011
(MENAFN) Oil and Gas producers in the Arab World are targeting USD 430 billions to be invested in the sector in the next 4 years, reported Bloomberg.
The targeting came after several governments reinstated long-held projects after the financial crisis.
Arab Petroleum Investments Corp, Apicorp, stated in its annual review of Arab energy investment released on Sunday that the prices and consumption recovery will motivate financers to invest in the revival of several energy-based projects, developing new ones.
Apicorp is an investment company owned by the Organization of Arab Petroleum Exporting Countries.
The producers are aiming for projects valued at USD 530 billions between 2011 and 2015, stated Apicorp, with cancelled and delayed projects falling to around 20 percent of the total.
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