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.
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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 | Thailand: At home and abroad
10 Mar 2011
For Thailand’s Fortune 500-listed energy giant PTT, 2011 could be one of the busiest years since the firm was privatised in 2001. Its overseas expansion programme is progressing apace with 43 projects under way in 12 countries. At the same time, however, falling reserves in its own backyard and rising costs could have an impact on medium-term growth.
In a dramatic move on February 17, the state government halted bidding for a new 300-MW coal-fired power station in Lahad Datu, citing environmental concerns. Sabah Chief Minister Musa Aman told local press that, “Sabah needs to increase power supply to meet the increasing development, but the state cannot afford to put its natural environment at risk.” He noted that protecting Sabah’s environment was crucial for the growing tourism sector, particularly given the state’s efforts to promote nature tourism.
Economic update | Malaysia: Success runs deep
21 Feb 2011
As it negotiates a new phase in exploration and production, Malaysia’s hydrocarbons industry received heartening news recently. Indeed, a large discovery mid-February off the shores of eastern Sarawak should help to temporarily halt the nation’s slow declining oil and gas output, dovetailing nicely with moves to boost exploration and production from marginal and deep-water prospects.