In a new report, the Arab Petroleum Investment Corporation (Apicorp), the investment fund of the Organization of Arab Petroleum Exporting Countries (OAPEC), states that the ongoing oil market crisis and COVID issues did not have a detrimental effect on committed gas investments in the Middle East and North African (MENA) region. Apicorp reports that gas investments have been steady in comparison to 2019 with planned investments showing an increase of 29% to reach $126 billion. The main driver for the current increase in investment is a regional drive for cleaner power generation and the use of natural gas and condensates as a feedstock for the petrochemicals industry. In its MENA Gas & Petrochemicals Investments Outlook 2020-2024, Apicorp reports on the MENA region’ planned and committed investments for the period 2020 to 2024. Remarkably, somehow contrary to overall global developments, the region’s petrochemicals sector shows an y-o-y increase of US$4 […]