The United Arab Emirates is planning to pump a whopping $76 billion into projects to develop its hydrocarbon sector over the next five years, to become the second largest Arab energy investor after Saudi Arabia. According to the Dammam-based Arab Petroleum Investment Corporation (Apicorp), an affiliate of the 10-nation Organisation of Arab Petroleum Exporting Countries (Oapec), estimates showed energy capital investments in the Middle East and North Africa (Mena) could total around $525 billion during 2012-2016.