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FINANCIAL NEWS
MENA’s energy investments to hit USD740b by 2017
30 Apr 2013
(MENAFN) The Arab Petroleum Investment Corp (Apicorp) stated that by 2017, the Middle East and North Africa (MENA) region is projected to invest nearly USD740 billion in the energy sector, reported Emirates 24/7.
The bulk of these investments, or more than 75 percent, will come from 7 countries among the biggest holders of oil and gas reserves that have not encountered political turmoil, excluding Libya and including Iraq.
The Arab world’s biggest economy, Saudi Arabia, is expected to invest USD165 billion in the sector, with the amount mainly coming from Saudi Aramco, SABIC and its affiliates, in addition to Saudi Electricity Company (SEC).
Meanwhile, in the UAE, investments in the energy sector are expected to reach around USD107 billion.
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