Oil and gas represent an important but slowly declining source of Malaysia’s exports and government revenues. Projected to become a net importer of both fuels by 2017, Malaysia is seeking to boost both upstream and downstream capacity, develop expertise in oilfield services, and promote renewable energy. The government has offered tax incentives for projects that use enhanced oil recovery (EOR)...
Energy
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With one of the world’s most commanding positions in the global energy industry and a growing role in regional diplomacy, Qatar has seen many returns on the political and economic investments it has made in the past two decades.
Nigeria’s 2011 output level was around 2.45m bpd of oil and condensate, about 2.9% of global production, making it the world’s 12th-largest supplier that year. Estimates of proven reserves for natural gas vary from 180.5 tcf to 187 tcf, but these figures may well underestimate the country’s potential. Indeed Nigeria’s natural gas is even more abundant than its oil, but the country has so far...
Algeria is ranked the fourth-largest producer of crude oil in Africa, with an estimated 12.2bn barrels of proven reserves as of January 2012. The country was also estimated to have 159trn cu feet (tcf) of proven natural gas reserves as of January 2012 and produced 2.83 tcf of natural gas in 2010. Given its substantial reserves, Algeria has maintained its position as a major global player in the...
Oil and gas production continues to dominate the Algerian economy, accounting for almost all of exports, close to half of government revenue and over a third of GDP. In recent years non-hydrocarbons GDP has outstripped wider economic growth, though this is largely driven by public spending rather than private sector activity.
With the National Bureau of Statistics(NBS) recording a real GDP growth rate, on an aggregatebasis, of 7.13% in the first quarter of 2011, and a slightly lower 6.17% for the same quarter in 2012, Nigeria boasts the continent’s second-largest economy after South Africa. Africa’s largest oil producer, Nigeria is the third-largest recipient of foreign direct investment in the continent after Angola and Egypt, according to the US Diplomatic Mission.