For the fourth week in a row, the MEED Projects index rose only marginally in value, remaining at about $1.76 trillion.
The recent modest rises are in sharp contrast to earlier in 2007, when weekly increases of $30-40bn were common.
Spiralling costs are largely to blame for the slowdown. However, some sectors have been hit by other issues. In the industrial and petrochemical sectors, the lack of new gas supplies is stifling the development of new projects.
TABLE: Gulf projects ($million)
|10 December 2007||3 December 2007||% change on week||10 December 2006||% change on year|
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