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Commodities Briefing - Categorized | Market Moves, Oil more

Delayed oil industry projects must race to meet demand

Posted on 07 November 2011

About $140 billion (Dh514.15 billion) worth of engineering and construction contracts have been either awarded by the national oil companies (NOCs) or are planned throughout the Middle East in 2011, according to research conducted by Deloitte, a global consultancy firm.
The research shows that over the next five years, the Middle East will witness strong growth in hydrocarbon production as the world’s dependence on fossil fuels continues………………………………………..Full Article: Source


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