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Refinery projects exceed $122bn
- Sunday, October 14 - 2007 at 10:13
GCC countries flush with cash from years of high oil prices are investing vast sums in new refinery projects to meet rising demand and tighter specifications for products, according to a report by Dubai-based research company Proleads. The total value of these projects exceeds $122bn, $80bn of which are in Saudi Arabia and due for completion before 2013. This investment has resulted in a boom in orders for new supertankers, and chemical product carriers, in particular, the report said.
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Jeff Florian, Senior ReporterSunday, October 14 - 2007 at 10:13 UAE local time (GMT+4)
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