Start with each emirate (see below)
According to Oil and Gas Journal (1/1/05), the UAE contains proven
crude oil reserves of 97.8 billion barrels, or slightly less than 8
percent of the world total. Abu Dhabi holds 94 percent of this amount,
or about 92.2 billion barrels. Dubai contains an estimated 4.0 billion
barrels, followed by Sharjah and Ras al-Khaimah, with 1.5 billion and
100 million barrels of oil, respectively.
The majority of the UAE?s crude oil is considered light, with
gravities in the 32o to 44o API range. Abu Dhabi's Murban 39o and
Dubai's Fateh 32o blends are the UAE's primary export crude streams,
though Dubai's production is been falling in recent years due to the
decline of its modest reserves. Most of the UAE?s oil fields have been
producing since the 1960s or early 1970s. Proven oil reserves in Abu
Dhabi have roughly doubled in the last decade, mainly due to
significant increases in rates of recovery. Abu Dhabi has continued to
identify new finds, especially offshore, and to discover new oil-rich
structures in existing fields.
Under the UAE's constitution, each emirate controls its own oil
production and resource development. Although Abu Dhabi joined OPEC in
1967 (four years before the UAE was formed), Dubai does not consider
itself part of OPEC or bound by its quotas.
OIL AND NATURAL GAS INDUSTRIES
Organizations: Abu Dhabi National Oil Company (ADNOC); Operates three
main oil and natural gas operating companies, five Service companies,
three joint ventures to fully utilize the produced natural gas, two
maritime transport companies for crude oil, refined product and LNG
and one refined product distribution company.
Major Refineries: Ruwais (145,000 bbl/d), Emirates National Oil
Company (ENOC) - Dubai (120,000), Umm al-Nar (88,000 bbl/d), Metro Oil
(Fujairah)(90,000 bbl/d), Sharjah Oil Refining Company (71,250)
Major Natural gas Processing Plants: Bab, Bu Hasa, Das Island, Habshan
(2), Jebel Ali, Ruwais
Major Oil Fields: Abu Dhabi: ?Asab, Bab, Bu Hasa, Al-Zakum Dubai:
Fallah, Fateh, Southwest Fateh, Margham, Rashid Sharjah: Mubarak (near
Abu Musa Island)
Major Associated Natural gas Fields: Abu Dhabi: Abu al-Bukhush, Bab,
Bu Hasa, Umm Shaif, Zakum
Ports: Abu Dhabi: Das Island, Delma Island, Jebel as Dhanna, Ruwais,
Abu al Bukhush, Al Mubarraz, Zirku Island, Port Zayed, Umm al Nar
Dubai: Jebel Ali, Fateh, Port Rashid Sharjah: Mubarak
Foreign Downstream Operations
In October 1998, the International Petroleum Investment Company
(IPIC), the UAE?s downstream investment outfit, purchased 50 percent
of the Hyundai Oil Refinery Company of South Korea for $500 million.
The UAE is the second-largest crude oil supplier to South Korea after
Saudi Arabia. IPIC?s overseas holdings also include a 10 percent stake
in Spain?s CEPSA and a 19.6 percent share of Austria?s OMV.
ECONOMIC OVERVIEW
Currency: Dirham (AED)
Market Exchange Rate (4/6/05): US$1 = 3.67 Dirhams
Gross Domestic Product (2004E): $95.5 billion (2005F): $104.3 billion
Real GDP Growth Rate (2004E): 6.4% (2005F): 6.5%
Inflation Rate (consumer prices) (2004E): 2.8%
Major Trading Partners: Japan, United Kingdom, United States,
Singapore, Germany, South Korea, Iran, India
Current Account Balance (2004E): $9.5 billion
Merchandise Exports (2004E): $77.8 billion
Merchandise Imports (2004E): $60.5 billion
Merchandise Trade Balance (2004E): $17.3 billion
Major Export Products: Crude oil, natural gas, re-exports, aluminum,
dried fish, dates
Major Import Products: Manufactured goods, machinery, and
transportation equipment, food
ENERGY OVERVIEW
Minister of Energy: Mohamed bin Dha'en Al Hamili
Proven Oil Reserves (1/1/05E): 97.8 billion barrels
Oil Production (2004E): 2.76 million bbl/d, of which 2.38 million
bbl/d is crude oil
OPEC Crude Oil Production Quota (effective 11/1/04): 2.36 million bbl/d
Crude Oil Production Capacity (1st Quarter of 2005): 2.50 million bbl/d
Oil Consumption (2004E): 430,000 bbl/d
Net Oil Exports (2004E): 2.33 million bbl/d
Major Crude Oil Customers (2004E): Japan (about 60%), other Far East (about 20%)
Crude Oil Refining Capacity (1/1/05E): 514,250 bbl/d
For the full report and links, please see:
http://www.eia.doe.gov/emeu/cabs/uae.html
Hope that got you started in the right direction,
Cindy |
