Middle East needs AED 2.5 trillion to fund energy projects in next 10 years

NULL

The Middle East will need $700 billion (AED 2.5 trillion) to fund energy projects across the region for the next ten years. That’s according to Saudi Arabia’s Minister of Petroleum and Mineral Resources, Ali Ibrahim Al Naimi, as reported by the national news agency WAM. Al Naimi has highlighted the role of the Arab region in oil production, as it houses more than half of the world’s proven oil reserves and nearly a third of the world’s natural gas reserves. He added that it also play a big role in consumption, as it uses up 10% of what the world consumes. Al Naimi also stressed the need to secure funding for energy projects to ensure the industry's continued growth.

More from Business

Recently Played

Latest Blogs

  • PINOY BULLETIN: JUNE 09 - 13, 2025

    Pinoy Expat Corner

    Welcome to Pinoy Bulletin, your go-to source for staying informed about important announcements, exciting group activities, community events, and job opportunities! Make sure to tune in every weekdays to Tag Gising Na from 5AM - 10 AM for a comprehensive roundup of important updates.

  • PINOY BULLETIN: JUNE 02 - 06, 2025

    Pinoy Expat Corner

    Welcome to Pinoy Bulletin, your go-to source for staying informed about important announcements, exciting group activities, community events, and job opportunities! Make sure to tune in every weekdays to Tag Gising Na from 5AM - 10 AM for a comprehensive roundup of important updates.

  • PINOY BULLETIN: MAY 26 - 30, 2025

    Pinoy Expat Corner

    Welcome to Pinoy Bulletin, your go-to source for staying informed about important announcements, exciting group activities, community events, and job opportunities! Make sure to tune in every weekdays to Tag Gising Na from 5AM - 10 AM for a comprehensive roundup of important updates.