24.05.2010 - GCC 'should use foreign assets' to fund oil
From Business24-7.ae: Gulf countries and other Arab oil producers should use part of their overseas savings to fund hydrocarbon expansion projects to offset the squeeze in global liquidity. "Arab governments should continue making up for shrinking foreign capital inflows to the region by reallocating internally more of the assets invested abroad by their sovereign wealth funds," an official Arab group said. The Dammam-based Arab Petroleum Investment Corporation (Apicorp), which groups 10 Arab oil producers, said the global fiscal distress had forced regional nations to shelve several projects, adding that this had largely depressed the value of energy investments.............................................Full Article: Source
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