Gulf Oil and Gas: Ensuring Economic Security

Author/s: several co-authors
1st Edition Year: 2006
Edition: First edition
Language: English
Available Languages: العربية
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Description

In recent years, geopolitical disruptions, tightening oil supply, refining constraints and rising demand have combined to maintain high oil prices, allowing Arabian Gulf oil producers to capitalize on the resulting revenue windfall. However, formidable challenges still loom ahead: What long-term production strategy should the Gulf OPEC members adopt? Can Gulf oil producers allay the supply security concerns of major consumer nations? How will limitations in crude quality and constraints in refining capacity impact on global energy markets? How can OPEC maintain reasonable oil prices in the face of exhaustible oil supplies and inexhaustible global demand? How will growing non-OPEC production affect OPEC’s predominant market position in the future? The ECSSR 11th Annual Energy Conference, Gulf Oil and Gas: Ensuring Economic Security, held from September 25-27, 2005 in Abu Dhabi, assembled international experts to discuss crucial energy developments and outline strategies for the Arabian Gulf states to strengthen their future economic security.

The conference presentations in this book focus on vital energy issues: the globalization of the gas trade, trends in crude quality; cooperation between consumers and producers; links between national and foreign oil companies; future demand for Gulf energy; prospects for augmented Gulf production; sustainability of Saudi Arabia’s excess capacity; concerns over oilfield security; imperatives for attracting investment; and the need for additional oil refining capacity. Conference deliberations indicated that for the Arabian Gulf producers, ensuring economic security means going beyond petroleum resource management to formulate policies leading to diversified national development and greater economic cohesion while safeguarding the region’s strategic position in an integrated world economy.

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