21
Jun
01:00
Middle East oil & gas projects worst hit, says Ernst & Young
The Middle East is the region with the highest rate of oil and gas project cost overruns and schedule delays, according to consultancy Ernst & Young (EY). Around $200 billion of these projects have been cancelled or put on hold worldwide in recent months due to the oil price slump.
Globally 64% oil & gas projects are facing cost overruns, while 73% report schedule delays. However, in the Middle East this is 89% and 87% respectively, EY says. Any dela…
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Very good overview of the weekly steel market.
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