Notes from EIA Country Briefs
Yemen
Geostrategic significance: Located on the Bab al-Mandab shipping lane (3.2 mb/d); closure or blockage could result in disruptions of Persian Gulf/Gulf of Aden to Suez/Sumed pipelines.
Hydrocarbon sector:
· 30% GDP
· 75% government revenues
· 3 billion barrels proven oil reserves (2011)
Oil Production:
· 2009: 286k bbl/d
· 2010: 260k bbl/d
· 2011/2010: 250k bbl/d (est.)
· Net exporter, 125,500 bbl/d (2009); domestic consumption rising
· Refining capacity: 140,00 bbl/d (2011)
o Chinese investment in modernization of refining facilities
Key players:
· General Corporation for Oil, Gas and Mineral Reserves
· Yemen Oil Company
· Safer Exploration and Production Operating Company (SEPOC)
o Leading national oil company (est. 2005)
General trends, observations:
· Oil revenues declining; foreign investment to energy sector needed
· Recent swing toward natural gas for domestic consumption and export
· Foreign contracts require parliamentary approval
o Licenses of Hunt Oil and ExxonMobil not renewed via parliamentary veto (2005)
o SEPOC can take over international companies’ assets upon licenses expiration (2010)
Syria
Link in Arab Gas Pipeline (Egypt, Jordan, Syria, Lebanon); potential increased transit revenues
Hydrocarbon sector:
2.5 billion barrels proven oil reserves (2010)
Oil Production:
· 2008: 390k bbl/d
· 2009: 368k bbl/d
· Exports: 148k bbl/d (2009)
o Exports mainly to Europe (Germany, Italy, France)
· Refining capacity: 240,00 bbl/d (2011)
Key players:
· Syrian Petroleum Company
o Increased exploration to combat production decline
o Increased production partnerships with foreign companies (50% share)
General trends, observations:
· Foreign investment to energy sector needed
· Recent move toward natural gas for domestic consumption-> natural gas importer
Bahrain
Hydrocarbon sector:
· 70% government revenues
· 60% of exports (exports = refined petroleum, not crude)
· 125 million barrels proven oil reserves (2011)- all from Awali field
o 2011 drilling new wells to combat production decline
o Refining capacity: 262k bbl/d
o Extra refining capacity-> imports 210k bbl/d from Saudi Arabia to refine and export
· Increased domestic consumption
· Decreased exports
o 2005: 27k bbl/d
o 2009: 3k bbl/d
Oil Production:
2010: 46k bbl/d total oil liquids (35k bbl/d crude oil)
Key players:
Bahrain Petroleum Company (Bapco, state-owned)- production, distribution, etc.
Libya
Hydrocarbon sector:
· 95% of export earnings (2010)
· 46.4 billion barrels proven oil reserves, Africa’s largest
· Member of OPEC
Oil Production:
· 2000: 1.43 million bbl/d
· 2010: 1.8 million bbl/d production capacity; 1.65 million bbl/d actual production (2010) due to OPEC quotas
· 1960s Peak: 3+ million bbl/d
· Refining capacity: 378k bbl/d
o Seeks upgrade in deteriorating refining facilities
· Domestic Consumption: 270k bbl/d (2010)
· Net exports (all liquids): 1.5 million bbl/d (2010)
o Exports mainly to Europe (Italy, Germany, France, Spain)
Key players:
· National Oil Company
o Since 2005, changes in production-sharing agreements restrict IOC’s output and require “fresh investment” for license renewal.
o Increased IOC investment in exploration has slowed
General trends, observations:
· Natural gas production increased in recent years.
· UN/US lifted sanctions on Libya in 2003/2004
· US designation as state sponsor of terrorism lifted in 2006
o US imports from Libya: 71k bbl/d (2010)
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