Investor confidence in Kuwait’s energy industry should get a welcome fillip from reports that the state-owned oil company is set to increase domestic oil refining capacity by more than 50% over the next five years.
The Middle East Energy
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Economic update | Kuwait: An air of refinement
29 Mar 2011
Economic update | Oman: Hitting the gas
24 Mar 2011
In an effort to meet rising domestic demand and keep the cost of imports to a minimum, Oman is looking to boost its production of natural gas. However, the levels of investment necessary to exploit the Sultanate’s difficult-to-tap reserves, means that margins may be squeezed until gas prices rise – something analysts are already predicting.
Economic update | Saudi Arabia: Fueling the future
17 Mar 2011
Saudi Arabia is looking to diversify its domestic power industry away from its existing reliance on fossil fuels by investing heavily to make renewable energy the Kingdom’s central source of electricity, a move that will extend the life of its oil fields, protect export earnings and pay environmental dividends.
Economic update | Jordan: Evolutions in energy
31 Jan 2011
In an effort to satisfy a growing appetite for energy, Jordan is working to wean itself off costly imported oil and make better use of its own resources. The country hopes to attract $14bn in investments in energy infrastructure, including the construction of a nuclear reactor scheduled to come on stream in 2018, and efforts focused on developing renewables and oil shale.
Jordan’s stable political environment, as well as the robust growth projections for its economy, should ensure near term investment inflows continue to fuel growth across the board; however, regional instability has been having a negative impact on the country’s tourism sector and rising refugee numbers are putting increased pressure on state services.