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Crown Jewels on the Block

Saudi Arabia's Largest Oil Refinery in Ras-Tanura

Photographer: Langevin Jacques/Sygma/Getty Images

There was a time when the Middle East’s petrostates recoiled from using their crown jewels to raise money from foreign investors. Not any more.

Within a space of weeks, Saudi Arabia, the United Arab Emirates, Qatar, Oman and Kuwait have all accelerated multi-billion-dollar plans to sell energy assets or issue bonds off the back of them.