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Only a quarter of Saudi Arabia's $1 trillion capex plan will go into oil
In what Goldman Sachs Research calls a “capex super-cycle,” Saudi Arabia is expected to invest $1 trillion across six strategic sectors by 2030. But the oil industry is likely to receive a smaller portion of this than previously forecast. Roughly 73% of the investment funds will go to non-oil sectors, Faisal AlAzmeh, who heads CEEMEA equity research and covers natural resources, chemicals, and infrastructure in the Middle East, writes in his team’s report. An earlier forecast pegged non-oil investment at 66%. Clean energy is expected to get $235 billion in funding, up from a previous forecast of $148 billion, ... (full story)
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- Posted: Aug 14, 2024 7:20pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 109
