Middle East Economic Survey


No 13


Gulf Refinery Construction Costs Slide

By Melanie Lovatt In Abu Dhabi

Weakening demand resulting from the global economic crisis has depressed refining margins and many of the Gulf’s planned expansions are delayed or under review, while in the US and Europe production cuts are being made and a number of operations are up for sale (and appear to be attracting little interest). However, the dramatic fall in the cost of...