Gulf projects 10 December 2007

08 January 2008

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 20073 December 2007% change on week10 December 2006% change on year
Saudi Arabia389,462389,1620.1307,07626.8
GCC Total1,610,1621,609,5930.01,132,97342.1
Gulf Total1,762,4101,761,9510.01,264,71639.4

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