CAPEX Q2 2019
H1 2019 has so far witnessed decent project awards and steady progression in key upcoming projects. With multiple mega projects present in the pipeline, the remainder of the year will likely continue to see healthy project activity
CAPEX Q1 2019
2019 project activity has commenced with a strong start with Q1 2019 witnessing c.USD 11.7bn worth of spends. With a filled pipeline of mega-projects, the remainder of the year is expected to see strong awards as well
CAPEX Q4 2018
Even with an increase in crude oil prices, 2018 was a troubled year for the Middle East projects market with project spends of only USD 32.5bn. With major strategic plans being finalized by NOC’s in the region, 2019 is expected to witness significantly higher project spends
CAPEX Q3 2018
Although several key projects have reached the final stages of award, at an overall level, Q3 2018 was another quarter of low spends as many projects are still awaiting final negotiations or official announcements. Given the expectation of continued stability in the energy market, next quarter is anticipated to witness healthier project spends in the GCC as many of the delayed projects of Q3 are expected to get awarded by year end
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