Last week I discussed the impact of the economic recovery and oil prices on the number of active projects, those under engineering or construction, in the hydrocarbon industry and the expected almost $220-billion (Dh807 billion) expenditure in 2011.
In this regard the oil refining segment is the biggest spender in 2011 likely to see a capital expenditure close to $25 billion as the number of active projects has risen from 1,564 in June 2008 to 1,751 in June 2010.
The highest number of active refining projects, especially large scale ones, are believed to be in Asia and the Middle East due to the expected economic and population growth and the associated rising demand for oil products.
No comments:
Post a Comment