Daman report focuses on significant investments in Arab oil, gas sector
(MENAFN) The Arab oil and gas sector has attracted significant investments, as detailed in a recent report by the Arab Investment and Export Credit Guarantee Corporation (Dhaman). The report, released from Dhaman’s headquarters in Kuwait, reveals that from January 2003 to May 2024, a total of 610 projects were initiated by 356 foreign and regional companies, amounting to an impressive USD406 billion in investments. This substantial financial influx underscores the growing international interest and the strong commitment of various global and regional players to the oil and gas industry in the Arab world, which continues to be a focal point for energy investments.
The report further elaborates on the contributions of key global powers, particularly highlighting the role of the United States and Russia in the Arab oil and gas landscape. The United States has distinguished itself as the top investor in terms of the number of projects, having launched 85 projects that account for roughly 14 percent of all the initiatives undertaken in this sector during the period covered by the report. This active participation by American companies signals the strategic importance they place on the Arab oil and gas sector as part of their broader energy investment portfolios.
On the other hand, Russia has emerged as the leader in terms of financial investment, committing a total of USD61.5 billion, which represents approximately 15.2 percent of the total investment in the Arab oil and gas sector. This substantial financial commitment from Russia highlights its strategic interest in the region and its desire to secure a prominent position in the global energy market. The data presented in the report illustrates the crucial roles that both the United States and Russia play in shaping the dynamics of the oil and gas industry in Arab countries, with their investments significantly influencing the sector’s development and future trajectory.
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