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Article: Arabian Gulf hydrocarbon projects worth US$690 billion.
- Article from:
- Albawaba.com
- Article date:
- October 27, 2009
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A full 30% by value of hydrocarbon projects in the Gulf Arab countries have been put on hold or cancelled according to a new report* published today by Dubai-based research house Proleads Global.
The report shows, however, that the Gulf Co-operation Council (GCC) countries remain the most active construction markets in the world for the oil, gas and petrochemical industries with projects budgeted at more than US$690 billion.
Proleads investigated a total of 578 hydrocarbon projects across the six GCC countries, and found that 30% by value have been placed on hold or cancelled with a further 30% currently in construction and 40% in the pre-construction ...