Engineering and Construction: Firms Benefit from Mideast’s Diversification and U.S. Shale Gas Bonanza

A hive of activity: Borouge 3 will more than double capacity and become one of the largest petchem complexes. Engineering and construction (E&C) firms are upbeat about business prospects in the energy and chemical sectors. However, for some companies—particularly the smaller ones—“the party is over” following the boom years of 2006-08, which ended with the global financial crisis, observers say. The conditions of those peak years, when it was essentially a sellers’ market and projects, particularly in the Mideast, were plentiful...

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