The oil revenues of the GCC states topped $23bn in January or more than $750m-a-day, according data in the latest Gulf Research Council report. Saudi Arabia was the biggest earner at $12.7bn, the UAE was second with $3.9bn and Kuwait earned $3.8bn, Qatar $1.4bn, Oman $1.3bn and Bahrain $120m. These revenues, fueled by higher oil prices, are creating tremendous opportunities for those doing business in the Arabian Gulf. Many of these Middle Eastern governments are translating increased oil income into new infrastructure projects on an unprecedented scale.
Monday, February 27, 2006
GCC Oil Earnings are Rising
The oil revenues of the GCC states topped $23bn in January or more than $750m-a-day, according data in the latest Gulf Research Council report. Saudi Arabia was the biggest earner at $12.7bn, the UAE was second with $3.9bn and Kuwait earned $3.8bn, Qatar $1.4bn, Oman $1.3bn and Bahrain $120m. These revenues, fueled by higher oil prices, are creating tremendous opportunities for those doing business in the Arabian Gulf. Many of these Middle Eastern governments are translating increased oil income into new infrastructure projects on an unprecedented scale.
