Oil & Gas

Key MENA countries rely on oil & gas for well over 50% of their revenue. For Iraq and Algeria, hydrocarbons provide over 90% of their export earnings. Whilst Saudi Arabia has a (so far largely rhetorical) National Transformation Plan, other countries have barely begun to consider how to adapt to the looming 'energy transition'.

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1: Gulf* Drilling Activity Falls To Lowest Level Since 2012 With Just 258 Active Drilling Rigs For August, Down From 375 Rigs Five Months Earlier

Libya Crude Output (Mn B/D): The Oil Blockade Has Reduced Production By More Than 1mn B/D

Egypt Oil Balance ('000 B/D): Output Continues Downward Trend As Demand Collapses

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