Regional stock market indices Regional currency rates GCC hydrocarbon projects at $690 billion Despite the suspension or cancellation of 30 percent of the Gulf’s hydrocarbon projects, the Gulf Cooperation Council’s (GCC) oil, gas and petrochemicals construction market remains the most active in the world, with $690 billion of budgeted projects. Among 578 hydrocarbon projects in the GCC, 30 percent by value have been placed on hold or cancelled, with another 30 percent under construction and a further 40 percent in the pipeline. Earnings from the GCC oil, gas and petrochemicals sectors remain the largest among other sectors, constituting about 85 percent of the region’s export revenues. In addition, the demand for hydrocarbons and refined products is expected to pick up as the global economy pulls out of recession. Proleads Insight, a hydrocarbon consultancy firm, is projecting that by 2010, the cash flows in the GCC hydrocarbon markets will stabilize. But
