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Article: Petrochemicals Become Key To GCC Growth.
- Article from:
- APS Review Downstream Trends
- Article date:
- December 18, 2006
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Petrochemical investments in the six Arab Gulf Co-operation Council (GCC) countries in 2005 totalled $29 bn, about 60% of the region's manufacturing sector investments, a Dubai Chamber of Commerce and Industry (DCCI) study said on Dec. 11. The study said that oil and gas contributed about 35.6% of the UAE's GDP last year.
In 2005, the UAE contributed 6% to GCC petrochemicals production, and refined oil production in the UAE totalled 437,000 b/d - an increase of 48% over the period 2000-2005. The study considered the petrochemicals industry to be a major factor because of its contribution to investment, capital attraction, diversification of sources of income and ...