Respuesta :
Compared to global averages, the United Arab Emirates (U.A.E.) holds considerable energy reserves. The U.A.E. is the world's seventh largest crude oil producer and the fourth largest producer of petroleum liquids in the Organization of the Petroleum Exporting Countries (OPEC). In addition, the U.A.E. holds the seventh largest natural gas reserves globally. Hydrocarbon production remains critical to the U.A.E. economy, amounting to $65 billion or approximately 20 percent of all export revenue, according to the U.S. Energy Information Administration (EIA). As a result of low oil prices, these revenue figures are down from a peak of $123 billion in 2013.
The U.A.E. controls its own oil and gas production and resource development. Abu Dhabi holds 94 percent of the U.A.E.'s oil reserves, or about 90 billion barrels (2017), which can be found both offshore and onshore. Additionally, Dubai holds an estimated 4 billion barrels of oil, followed by Sharjah and Ras al-Khaimah with 1.5 billion and 100 million barrels of oil, respectively. In Abu Dhabi, the Supreme Petroleum Council (SPC) establishes the Emirate’s petroleum-related objectives and policies. Abu Dhabi's position as a central player in the U.A.E.'s oil industry and wider economy means that the SPC is considered the country’s most important entity in regards to energy policy.
The U.A.E. produced 3.7 million barrels per day (b/d) of petroleum and other liquids in 2016, of which 2.9 million b/d was crude oil and remainder was non-crude liquids. The state-owned Abu Dhabi National Oil Company (ADNOC) and its operating companies are in the process of expanding the output of crude oil to 3.5 million bpd by 2020, which the country aims to maintain until 2027. As proven reserves are expected to remain relatively constant, increased production will therefore rely on enhanced oil recovery (EOR) practices in the present fields. Carbon dioxide (CO2) injection projects in Rumaitha and Bab are examples of such initiatives. ADNOC is also developing the country’s downstream industries, with emphasis on petrochemicals and plastics.
ADNOC continues to face pressure to cut costs to offset the fall in global oil and gas prices. The company cut up to 5,000 jobs in 2016, according to MEED reports, and major changes have swept across ADNOC and its associated companies. These changes include the appointment of a new Director General and the replacement of six CEOs across the group of companies. The Minister of Energy further noted that mergers between these companies have been and will continue to be used as a tool to cut costs and raise efficiency through consolidation.
The U.A.E. continues to pivot heavily toward Asian markets. The U.A.E. exports 96 percent of its crude oil to Asia, and the government has steadily increased contracts to Chinese, Korean and Japanese firms.
The U.A.E. controls its own oil and gas production and resource development. Abu Dhabi holds 94 percent of the U.A.E.'s oil reserves, or about 90 billion barrels (2017), which can be found both offshore and onshore. Additionally, Dubai holds an estimated 4 billion barrels of oil, followed by Sharjah and Ras al-Khaimah with 1.5 billion and 100 million barrels of oil, respectively. In Abu Dhabi, the Supreme Petroleum Council (SPC) establishes the Emirate’s petroleum-related objectives and policies. Abu Dhabi's position as a central player in the U.A.E.'s oil industry and wider economy means that the SPC is considered the country’s most important entity in regards to energy policy.
The U.A.E. produced 3.7 million barrels per day (b/d) of petroleum and other liquids in 2016, of which 2.9 million b/d was crude oil and remainder was non-crude liquids. The state-owned Abu Dhabi National Oil Company (ADNOC) and its operating companies are in the process of expanding the output of crude oil to 3.5 million bpd by 2020, which the country aims to maintain until 2027. As proven reserves are expected to remain relatively constant, increased production will therefore rely on enhanced oil recovery (EOR) practices in the present fields. Carbon dioxide (CO2) injection projects in Rumaitha and Bab are examples of such initiatives. ADNOC is also developing the country’s downstream industries, with emphasis on petrochemicals and plastics.
ADNOC continues to face pressure to cut costs to offset the fall in global oil and gas prices. The company cut up to 5,000 jobs in 2016, according to MEED reports, and major changes have swept across ADNOC and its associated companies. These changes include the appointment of a new Director General and the replacement of six CEOs across the group of companies. The Minister of Energy further noted that mergers between these companies have been and will continue to be used as a tool to cut costs and raise efficiency through consolidation.
The U.A.E. continues to pivot heavily toward Asian markets. The U.A.E. exports 96 percent of its crude oil to Asia, and the government has steadily increased contracts to Chinese, Korean and Japanese firms.
Answer:
U.A.E a good present but dim future.
Explanation:
- Before the oil was developed in the U.A.E they were concentrated on the fishing and the agriculture and had a declining pearl industry. Since the discovery of the oil, the economy has been transformed with a high per capita income, high navigation projects and fuel-efficient vehicles.
- The U.A.E maintains a strong financial reserve and a good banking sector, has huge investments. The gross official reserves of U.S.D 76.8 billion in 2015 to U.S.D of 118.4 billion in 2020.
- Most of the drawback includes the decline reserves of oil and political instabilities inland with the rise of the oil prices and the water resource have to be imported as their lands lack the freshwater reserves and are low on agriculture.
