Gulf Oil and Gas accountACCOUNT

OPEC Member Countries Economy – August 2012

Source: OPEC 8/29/2012, Location: Middle East

Saudi Arabia’s real GDP is projected to slow down to around 5.0% in 2012 compared with 6.8% in 2011, but a surge in oil income will likely widen its fiscal surplus. Government spending will remain the main driver for the growth of the national economy. The Saudi economy is well prepared to adapt to the current global economic slowdown, even in case the debt crisis in the Euro-zone remains out of control. Oil revenues increased by 37.6% compared with last year due to the increase of production and oil prices. The increase, in terms of production and prices, has correlated to Saudi economic growth in three elements: The oil sector constitutes the major part of GDP; it is a major source of revenues for the state budget; and the country’s oil sector enjoys a competitive global advantage. The central bank of Iran has reported that the inflation rate has been rising since the beginning of the year. While the inflation rate was declining last year, it started to rise again this year, from 21.8% in the first month to 22.9% in the fourth month.

Financials and Investment News in Saudi Arabia >>

United Kingdom >>  2/15/2019 - Angus Energy has announced that the Company has placed, subject to admission to trading on AIM, 55,000,000 new Ordinary Shares in the Company with exi...
Egypt >>  2/14/2019 - Dana Gas PJSC ("Company"), the Middle East's largest regional private sector natural gas company, today announced its Preliminary Unaudited Financial ...

Saudi Arabia >>  2/14/2019 - Saudi Aramco has selected banks to arrange its first international debt sale which will help it finance the acquisition of a stake in Saudi Arabian Ba...
Australia >>  2/12/2019 - Carnarvon Petroleum Limited is conducting a placement to institutional and sophisticated investors to raise approximately $50 million. The Placement c...

Norway >>  2/7/2019 - DNO ASA, the Norwegian oil and gas operator, announced 2018 net profit of USD 354 million on revenues of USD 829 million, the highest annual revenues ...
Tanzania >>  2/7/2019 - The Company is pleased to announce that as it enters a period of operations it has raised approximately £1.85 million (approximately $2.40 million) be...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.