Oil income up in Abu Dhabi

03/10/2011 - Northern Emirates Property & Investment News Posted by Neil King
Oil income up in Abu Dhabi

Investors keeping a close eye on the economic environment in Abu Dhabi could be among those interested in the publication of recent figures showing the strength of the hydrocarbon sector.The emirate's hydrocarbon income increased by almost Dh82 billion last year, driven largely by strong oil prices.Figures published in Emirates 24-7 revealed that total income from oil, gas and petroleum products increased from Dh196.6 billion in 2009 to Dh 278.6 billion last year.The strength of the sector, and Abu Dhabi's economy in general, could encourage a number of property investors to seek out new opportunities.It comes after a recent report revealed that investments in the emirate's hydrocarbons sector increased to a record high of more than Dh43 billion in 2010.This comes as the emirate ploughs ahead with plans to expand output capacity.According to the data, investment was almost 29 per cent above the capital recorded in 2009.