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FINANCIAL NEWS
Value of ME’s oil, gas transactions fall 40 percent
16 Mar 2014
(MENAFN) Combined number of oil and gas transactions in the UAE, Oman and Iraq reached about 60 percent of the total number of upstream transactions in the Middle East, according to Arab News.
Number of transactions in the region dropped by 40 percent in one year to the end of 2013, while the overall transaction value boosted to USD3.1 billion in 2013 up from USD2.7 billion a year earlier.
Thorsten Ploss, MENA oil and gas leader, EY, said: “Rapid-growth markets have been, in recent years, the engine room of the world”s economic growth.
This provided oil and gas companies with brighter prospects, attracting them to invest in regions such as the Middle East to supply such growth.”
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