The 2014 collapse in oil prices may have set back a range of Middle East civil engineering and marine construction and development projects, but neither the scale nor the number of projects have diminished and companies engaged in land reclamation, port construction, channel widening and deepening and major marine construction projects, face a bright future. Geopolitics is playing a positive role. Tightening sanctions on Iran, economic mayhem in Venezuela and increasing hostilities in Libya were all driving oil prices up during the second half of April, a development that is likely to loosen purse strings across the Gulf region. Projects that had been scaled back are likely to ramp up once more, and others that had not been given the final go-ahead may now get the green light.
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