The value of stocks of oil and gas in the Gulf Cooperation Council (GCC) $ 65 trillion according to current prices, representing about a third of the total value of global stocks of oil and gas, which is about 200 trillion dollars, while oil and gas revenues for the governments of the region during 2012 about 521 billion dollars according to a report issued "QNB Capital" today.
Equal to the value of stocks and 47 times the previous estimates of gross domestic product in the GCC countries during 2012, or it is equal to 93% of global GDP, and is equal to 125 times the value of oil and gas revenues for the governments of the region over the past year.
Although the extraction operations for decades, estimates of "QNB Capital" indicates that the current oil reserves in the region, and at current production levels, will continue for a period of 70 years, while gas reserves will last for 118 years. Thus, the optimal use of this stock will be the economic future of the GCC countries during the next century.
Stock size
In terms of the size of inventory, stocks, the Gulf Cooperation Council (GCC) of oil, amounting to 495 billion barrels, representing 36% of the world's oil reserves, and that the stock of the region of natural gas, and of 42 trillion cubic feet, representing 22% of global stocks.
When the distribution of oil and gas reserves by country, we find that Saudi Arabia account for almost half the stock of the Gulf Cooperation Council countries. And followed by the United Arab Emirates, Kuwait and Qatar, which holds each stock to about one-sixth of the region. The stock value of the State of Qatar is approximately $ 9.5 trillion. The share of the Sultanate of Oman is 1.2%, while Bahrain acquires less than half the share of the total stocks of oil and gas in the region.
Differences in gas prices
In contrast to oil prices, there are important differences in natural gas prices between countries at the level of the year, so the analysis estimates "QNB Capital," the prices of gas at 7.5 dollars per thousand cubic feet, representing an average price of gas imports, either by pipeline or natural gas LNG in the United States, Europe and Asia.
This estimate is considered acceptable for the value of the gas for importing countries, as the cost of the amount of gas required to produce the same amount of energy produced by a barrel of oil up to $ 40. Therefore, the gas exports account for more than a third of the value of just the price of oil, which was estimated at $ 109 a barrel in 2012.
Equal to the value of stocks and 47 times the previous estimates of gross domestic product in the GCC countries during 2012, or it is equal to 93% of global GDP, and is equal to 125 times the value of oil and gas revenues for the governments of the region over the past year.
Although the extraction operations for decades, estimates of "QNB Capital" indicates that the current oil reserves in the region, and at current production levels, will continue for a period of 70 years, while gas reserves will last for 118 years. Thus, the optimal use of this stock will be the economic future of the GCC countries during the next century.
Stock size
In terms of the size of inventory, stocks, the Gulf Cooperation Council (GCC) of oil, amounting to 495 billion barrels, representing 36% of the world's oil reserves, and that the stock of the region of natural gas, and of 42 trillion cubic feet, representing 22% of global stocks.
When the distribution of oil and gas reserves by country, we find that Saudi Arabia account for almost half the stock of the Gulf Cooperation Council countries. And followed by the United Arab Emirates, Kuwait and Qatar, which holds each stock to about one-sixth of the region. The stock value of the State of Qatar is approximately $ 9.5 trillion. The share of the Sultanate of Oman is 1.2%, while Bahrain acquires less than half the share of the total stocks of oil and gas in the region.
Differences in gas prices
In contrast to oil prices, there are important differences in natural gas prices between countries at the level of the year, so the analysis estimates "QNB Capital," the prices of gas at 7.5 dollars per thousand cubic feet, representing an average price of gas imports, either by pipeline or natural gas LNG in the United States, Europe and Asia.
This estimate is considered acceptable for the value of the gas for importing countries, as the cost of the amount of gas required to produce the same amount of energy produced by a barrel of oil up to $ 40. Therefore, the gas exports account for more than a third of the value of just the price of oil, which was estimated at $ 109 a barrel in 2012.
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