OPEC Middle East plans for rising world demand amid uncertainty
- Organization of Petroleum Exporting Countries, Vienna (Austria)
The Middle Eastern members of the Organization of Petroleum Exporting Countries must plan for huge increases in oil production capacity yet wonder whether markets for the new output will develop as expected. With worldwide oil consumption rising and non-OPEC output likely to reach its resource limits soon, OPEC member countries face major gains in demand for their crude oil. To meet the demand growth, those with untapped resources will have to invest heavily in production capacity. Most OPEC members with such resources are in the Middle East. But financing the capacity investments remains a challenge. Some OPEC members have opened up to foreign equity participation in production projects, and others may eventually do so as financial pressures grow. That means additions to the opportunities now available to international companies in the Middle East. Uncertainties, however, hamper planning and worry OPEC. Chief among them are taxation and environmental policies of consuming-nation governments. This paper reviews these concerns and provides data on production, pricing, capital investment histories and revenues.
- OSTI ID:
- 242288
- Journal Information:
- Oil and Gas Journal, Journal Name: Oil and Gas Journal Journal Issue: 22 Vol. 94; ISSN OIGJAV; ISSN 0030-1388
- Country of Publication:
- United States
- Language:
- English
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