Oil producers in the Middle East and North Africa (Mena) plan to invest $740 billion on energy projects in the next five years, led by Saudi Arabia, according to Arab Petroleum Investments.
High oil prices will allow them to resume projects that were delayed at the height of the financial crisis, the inter-governmental energy lender said.
Saudi Arabia tops the list with committed investments of $165 billion, mostly generated by Saudi Arabian Oil Company and Saudi Basic Industries, followed by the UAE that plans to invest $107 billion in the period.
