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What we do & why we do it Middle East Energy News, Analysis & Supporting Data
 

We invest our time to delve into the details that will empower you with forward-looking analysis, enabling
you to attain your objectives efficiently and successfully within the Middle East region's constantly changing
energy, economic, political and social landscape. These factors directly and indirectly influence the risks
involved in a region, that is and will remain vital to global energy supplies.

our regional focus makes us unique
 
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The Importance of the Middle East & North Africa Economically & Geopolitically
 

Mideast oil producers are enjoying an extended revenue bonanza on the back of $100/B-plus oil. They also have some of the world's lowest production costs, meaning that were oil prices to fall they would still enjoy healthy margins. This is in sharp contrast to US shale and Canadian oil sands output, much of which is only viable at prices of over $80/B.

OPEC, and its core Middle Eastern members in particular, will lose some market share to unconventional North American output in the near term. But over the long-term, the massive reserves of Gulf OPEC countries will see their global market share rise post-2020 as North American output peaks and then begins to fall. Saudi Arabia has reserves of 260bn barrels (a reserves to production ratio of over 70 years, compared to 11 for the US), Iran has 160bn barrels, and Iraq 150bn; the latter two in particular have ambitious plans to greatly expand crude output. For Saudi Arabia, expansion plans have focused on the downstream and are set to turn the kingdom into a key supplier of oil products and petrochemicals to the Asia-Pacific region. Since the start-up of the 400,000 b/d Satorp refinery in late-2013, the country’s exports of oil products have hit record levels. Iraq also has highly ambitious downstream plans, whilst rapidly-growing populations are fueling a massive expansion of power-generation capacity from Algeria to Abu Dhabi: all of which offers multi-billion investment opportunities for foreign firms. Whatever the source of current hype, the pivotal role of the Middle East in global energy markets is not about to change any time soon.

 
 

5 of the Top 10 Oil Producers in the world , Saudi Arabia, Iran, UAE, Iraq & Kuwait, are in the Middle East and are Members of OPEC.

The MENA region will increase
its market share by 2050 as it holds
53% of world oil reserves

16% of Total US Crude Imports
came from Saudi Arabia alone, edging
up despite the shale revolution.

 
Total CEO, Christophe de Margerie says
the world will need 55mn b/d of 'new oil' by 2030.
IEA Chief Economist, Fatih Birol says 40mn b/d. Either way only the Middle East
can supply these volumes.
 
Even with the US 'shale revolution, the
Middle East's massive reserves means the region will
continue to increase its market share by 2050. Accordingly, Algeria has the 3rd largest shale
reserves and Libya has the 5th largest..
 
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"The first thing I read weekly is MEES. I used to get it when I was a student as a friendly gesture from a Mobil executive so I'm revealing a secret. Everyone should read MEES."
Prince Abdel Aziz bin Salman al-Saud
Deputy Minister of Petroleum of Saudi Arabia
 

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