|
SUPPLY
The UAE is a member of OPEC and has restricted oil output
since the mid 1980s but was producing near full capacity in 2007.
Dipping output was occurring, initially due to lack of spare capacity
and a number of new projects to increase output were underway,
especially in Abu Dhabi. However, since 2008, output has been cut back
due to restrictions under its OPEC obligations.
Abu Dhabi is the main producer with Dubai also a significant producer.
With new investment, especially in gas injection, there is some
potential to eventually increase oil production capacity from Abu Dhabi
but output is expected to plateau by 2015 as its old large fields
deplete. Gas production is also increasing in Abu Dhabi, especially
offshore, both for gas re-injection and for export as LNG and to Dubai.
Oil production peaked in Dubai in 1991 and there are no unexploited
fields remaining offshore whilst just one field produces gas and
condensate onshore.
DEMAND
 Oil
consumption increased rapidly from 2000 to 2007 but demand has now
flattened off and will probably rise only slowly in future. Exports are
also increasing but will be on a plateau after 2015.
Demand for gas has grown for electricity generation, desalination plants
and for new industrial uses, especially in Dubai, which has been
diversifying and growing its economy and after a pause in 2009/2010 this
is expected to continue.
For the Emirates as a whole, net imports from Qatar and Oman may be
required by 2012 as, although Abu Dhabi will be increasing its
indigenous gas production, Dubai will still be seeing surging demand.
|
DIRECT ACCESS TO ALL COUNTRIES AND REGIONS
