MEES Analysis: Gulf NOCs Go Global; Refining Leads The way

Over the past decade “economic diversification” has grown into a cause célèbre in the Gulf. Countries were warned of impending economic doom, as the world would gradually – but inexorably – move away from oil and gas as a principle source of energy.

Diversification of oil and gas-dependent economies remains an important goal in the Gulf, but it is easier said than done. Some...