Thursday 1 May 2014

Corruption still hinders Arab energy sector - Al-Monitor: the Pulse of the Middle East

Corruption still hinders Arab energy sector - Al-Monitor: the Pulse of the Middle East:



"The Arab oil industry continues to play the leading role in the region’s economy. However, this industry is facing significant challenges that will adversely affect economies and performance if current problems are not solved.



The first challenge is the deterioration the oil industry is witnessing due to wars, armed conflicts and international blockade. Wars and blockades have been ongoing since the 1980s, with different repercussions on one country or the other. The subsequent chaos has taken a toll on no less than eight countries. There are, for example, the long wars, blockade and occupation Iraq went through and the blazing of oil wells in Kuwait during the occupation, in addition to the blockade in Libya, and the destruction of oil industry in Sudan and South Sudan due to the wars.

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