Middle East Economic Survey

VOL. LIII

No 26

28-Jun-2010

Middle East To Emerge Relatively Unscathed From BP Macondo Fallout

BPs Macondo oil spill in the Gulf of Mexico has prompted the major to announce it will divest $10bn of assets to help fund a $20bn compensation program. No decision has as yet been taken as to what projects are to be affected, but initial MEES soundings indicate that, for the moment at least, most core BP projects in the Middle East are safe.

It is far too early to quantify,...