Tag: Economy

Kuwait's Al Zour Refinery has reached its full designed production capacity of 615,000 barrels per day in 2026, making it the Gulf's largest refinery and one of the world's ten most productive, with output primarily targeting export markets in Asia and Europe and reducing Kuwait's dependence on imported petroleum products.

QatarEnergy's North Field East LNG expansion — the world's largest LNG project — has completed Phase A at a cost of USD 28.7 billion, adding 32 million tonnes per year of new capacity and positioning Qatar to produce 126 million tonnes of LNG annually by 2027, cementing its lead as the world's largest LNG exporter.

The Kuwait Investment Authority has grown its assets under management to an estimated USD 969 billion in 2026, maintaining its position as one of the world's five largest sovereign wealth funds and continuing its strategy of diversifying Kuwait's national wealth across global equities, private equity and infrastructure.

Salalah Free Zone has broken export records in 2026, with its strategic location between Asia, Africa and Europe positioning Oman's southern port city as a critical logistics hub, attracting investment from global manufacturers and logistics companies seeking a GCC base with direct Indian Ocean access.

Oxford Economics forecasts GCC real GDP growth of 4.4% in 2026, driven by strong domestic demand, non-oil sector expansion across all six states, and elevated credit growth supported by interest rate cuts — with the region's combined economy worth over USD 2.1 trillion.