National Council on U.S.-Arab Relations

The National Council on U.S.-Arab Relations
and the U.S.-GCC Corporate Cooperation Committee

invite you to attend:


Rhetoric and Reality in Arab-U.S. Energy Relations


Thursday, April 11, 2013


12:30 - 1:00 p.m. - Light lunch and refreshments
1:00 - 2:00 p.m. - Remarks from specialists
2:00 - 2:30 p.m. - Question and answer session


Willkie Farr & Gallagher LLP
1875 K Street, NW
First Floor Conference Room
Washington, DC 20006


Mubarak Offshore Platform, United Arab Emirates Commercial oil tanker AbQaiq Solar array in Saudi Arabia

Participating specialists include:

Mr. John Hofmeister
Founder and Chief Executive, Citizens for Affordable Energy;
former President, Shell Oil Company
[citizensforaffordableenergy.org]


Professor Paul Sullivan
Professor of Economics, National Defense University;
Adjunct Professor, Georgetown University
[georgetown.edu]


Ms. Randa Fahmy Hudome
President, Fahmy Hudome International;
former Associate Deputy Secretary of Energy
[fahmyhudome.com]


Moderator:

Dr. John Duke Anthony
Founding President & CEO,
National Council on U.S.-Arab Relations
[ncusar.org]


R.S.V.P. (Acceptances Only) via email to RSVP@ncusar.org


Please note: seating capacity is limited.

INCLUDE THE FOLLOWING INFORMATION WHEN YOU R.S.V.P.:

     Name:
     Company:
     Title:
     Phone:
     Email:

For questions, please call the National Council on U.S.-Arab Relations at (202) 293-6466.



Sponsors:

National Council on U.S.-Arab Relations U.S.-GCC Corporate Cooperation Committee

National Council on
U.S.-Arab Relations

U.S.-GCC Corporate
Cooperation Committee



Basic Facts about Oil and Gas in the Arab World and United States:
  • Arab countries hold more proven oil reserves than the countries of any other region (713.6 billion barrels), comprising more than 43 percent of the world's total proven reserves. Saudi Arabia holds more than 265 billion barrels of proven oil reserves, 16 percent of global total reserves.
  • With an average output of 26.3 million barrels per day in 2011, the Arab world produces nearly a third of world oil supply. Four of the world's ten largest producers of oil are Arab oil producers, including Saudi Arabia, the UAE, Kuwait and Iraq.
  • The Arab world also holds prodigious reserves of natural gas -- 55 trillion cubic metres (Tcm) at the end of 2011 -- more than a quarter of the world's total proven gas reserves.

World Oil Reserves and Production by Region

Oil Reserves and Production

  • The hydrocarbon sector's contribution to Arab countries' government revenues is high in most cases: around 66 percent in Algeria, 62 percent in Yemen, and between 80–90 percent in most of the Gulf States and Libya.
  • The GCC economies' energy demand rates since 1980 have risen quickly: more than 6 percent annually, which made the sub-region's energy consumption between 1980 and 2009 grow more than five-fold.

Primary Energy Consumption Growth by Region Since 1980

Primary Energy Consumption Growth by Region Since 1980

  • U.S. crude oil production exceeded an average level of 7 million barrels per day in November and December 2012, the highest volume since 1992. Projected domestic crude oil production is expected to average 7.3 million barrels per day in 2013 and 7.9 million barrels per day in 2014.
  • U.S. oil imports are expected to fall 70 percent between 2011 and 2030.
  • Total upstream costs for producing crude oil and natural gas are $33.76 per barrel of oil equivalent in the United States but only $16.88 per barrel of oil equivalent for Middle East producers. Oil reserves in the GCC countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE) are among the cheapest in the world to find, develop, and produce (with the exception of those in Oman).

Sources:

Bassam Fattouh and Laura El-Katiri, "Energy and Arab Economic Development," Arab Human Development Report Paper Series, 2012, http://www.arab-hdr.org/publications/other/ahdrps/ENGFattouhKatiriV2.pdf.

U.S. Energy Information Administration, Short-Term Energy Outlook, March 2013, http://www.eia.gov/forecasts/steo/.

U.S. Energy Information Administration, Performance Profiles of Major Energy Producers, February 2011, http://www.eia.gov/finance/performanceprofiles/.

BP, Energy Outlook 2030, January 2013, http://www.bp.com/energyoutlook.



About the National Council on U.S.-Arab Relations:


National Council on U.S.-Arab Relations

1730 M St. NW, Suite 503, Washington, DC
Phone: 202-293-6466 | Fax: 202-293-7770



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