Quarterly Reports
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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

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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

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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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CAPEX Q2 2018

Improvement in crude oil prices have led to decent Q2 2018 project awards and multiple key announcements across a majority of the GCC countries in both the upstream and downstream sectors

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