Is the GCC Petrochemical Industry At Risk?
The region is divided between the countries with significant energy endowments like most of the GCC as well as Algeria and Libya and those that are net importers. As might be expected in such an oil-rich region, much of the domestic fuel and power needs are met by hydrocarbons rather than coal or renewable fuels. The combination of fast economic growth, the consumption boom of recent years and subsidized fuel and energy contributed to a sharp increase in domestic energy needs, which could put a crimp in net exports.
