New Gulf refineries and expansion projects plus a crude-to-chemicals project will complement crude exports as future revenue streams.

Gulf states are increasingly focused on maximizing revenue from each barrel of oil produced as NOCs build up their trading and marketing capabilities (MEES, 24 May) and expand their downstream footprints.

Crude processing capacity in the Gulf currently stands at 7.37mn b/d and a swathe of projects are designed to boost this by 37% to more than 10mn b/d by...