Energy

Ghana’s leap into the ranks of oil-producing countries happened in record time, taking just 42 months from discovery to production. That speed brought with it complications that have necessitated a revision of forecast output. However, the bulk of those hiccups appear to have passed and the outlook for 2013 is looking encouraging, with the flagship Jubilee field set to hit maximum targeted production and new commercial discoveries about to come online.

Aiming to reduce both its greenhouse emissions and its use of hydrocarbons to generate power, Qatar is looking to embrace solar technology. This could lead to the development of a local industry with the potential for exports in the longer term.

A drive to reduce electricity shortages in the Philippines will see the country set out to become the largest geothermal energy producer in the world in line with efforts to increase its focus on renewable energy sources.

As the Turkish government drums up support for investment in renewable energy, international firms continue to face significant challenges in conducting environmental impact studies, securing funding and acquiring licences.

Rising domestic demand for energy, fuelled by industrialisation and a growing population, has prompted Malaysia to take on a new role of major gas importer as it looks to augment its own extensive reserves.

Increased crude production in Saudi Arabia, combined with rising oil prices, has put the Kingdom on track to generate record annual revenues for the sector, with recent figures from Riyadh-based Jadwa Investments indicating that income could reach a yearly high of $288bn for 2012.