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GCC Countries Drive $353 Billion in Hydrocarbon Projects, but Postponements and Cancellations Threaten


Industry Segment: Chemical Processing | Word Count: 429 Words

JOHANNESBURG--January 26, 2012--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Saudi Arabia is home to more than 60% of the Gulf Cooperation Council's (GCC) total hydrocarbon projects, with planned investments of about $215 billion covering 147 major ventures. The projects are focused heavily on the upstream oil and gas sector, including the massive $20 billion Yanbu integrated refinery and petrochemicals complex, which is currently in the study phase, according to regional investment bank Global Investment House (LSE:GLOB.L) (Kuwait). The Jizan refinery is another major project in the pipeline, with an estimated budget of $7 billion.

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