The Arab Spring has disrupted investment plans in oil and gas projects as some governments in the region have shifted their focus to meet increasing demands from their population, the International Energy Agency said on Tuesday.
Iraq on Wednedsday signed a long-delayed deal with South Korea’s KOGAS to develop a promising western gas field, as Baghdad announced that its oil exports have reached their highest level since the 2003 U.S.-led invasion.
Arab Petroleum Investments Corp (APICORP) on Sunday said it was in “mature discussions to divest two of its key equity stakes and reinvest the proceeds in new oil and gas companies as it seeks to diversify its portfolio.
The soaring cost of oil is causing growing strain to economies around the world, rich and poor.
With prices more than doubling in the past year to $135 a barrel, the impact is being felt acutely by consumers and businesses alike.
UN report estimated the geological reserves of crude oil in Syria about 24,101 million barrels, viable production disposable reserves of about 6,790 million barrels and remaining viable production reserve of about 2,7 billion barrels. It is noteworthy that the report is prepared by the United Nations Economic and Social Commission for Western Asia “ESCWA”
On Friday, the eighth of August 2008, and on the ground stadium «bird nest», which has room for 91 thousand spectators, China World amazing opening session of the Beijing 2008 Olympic Games?
And a few days earlier, «major oil empire» dazzling human tormented by poverty and ignorance, hunger and disease, by declaring the entire profits for the second quarter than in 2008 and the current limits of 51.5 billion $, and there is a commercial dazzling, unprecedented in Northern contemporary history of imperialism.
Food prices continue to rise globally threatened with famine international experts warns that it will include half the population of the globe and will focus in particular in Africa and Asia.
This madness at prices due to several reasons, according to international experts and agency reports Foremost among these reasons, orientation towards the danger of alternative energy, which is an American invention will transform millions of tons of agricultural production as fuel for vital mechanisms instead of pumping millions of these foodstuffs in global markets and introduce them in the door Aid to poor countries.
In addition, manipulating the American dollar prices and raising oil prices to the benefit of corporate monopolies, particularly the U.S. which possesses the widest influence in the oil markets .. In this connection, the nutrition experts and economists that Americans have been useful to Washington to divert funds paid by the war in Iraq and Afghanistan, estimated so far to three trillion U.S. dollars relief to poor nations. ,
The United States is working on others responsible for loading oil prices and increased demand increased pumping in the market. In this context, it is expected to ask U.S. President George Bush during his visit to the region from Saudi Arabia moves to contain the rise in oil prices has not guarantee success in the endeavor, at the time it declared the International Energy Agency that world oil demand will be lower than expected during the current year Although Iran reiterated that it reconsider its oil production. He said James Williams from the Group «Texas Risrc Sunset» difficult to determine the matter if the question is: Are they going to Saudi something if they are able to reduce prices? The answer would be yes, but the real question is, in fact: Is it able to do something, in such circumstances? The answer is I do not know. Bush had asked last January by King Abdullah to increase production, but «OPEC» did not respond to this request. He said U.S. President Advisor Stephen Hadley: that Bush would raise this issue again during his meeting with the Saudi monarch, adding: that the demand will focus on Saudi Arabia to take into account the economic development of its customers, starting with the first customer of any United States.
In turn, said the International Energy Agency in its monthly oil market report:
The global consumption will increase by 1.03 million barrels a day this year no less than 230 thousand barrels a day from previous estimates. The organization reduced its request for more than half a 2.2 million barrels a day last July, and possibly shrink further. The agency added: This report is expected further downward adjustments in demand, and may not be the last, despite a significant reduction in our expectations last month in the American demand was necessary to conduct further downward adjustments this month.
Concurrently, Iran started to reconsider its oil production as the oil minister Gholam Hussein Nodhiri when he said: that Iran intends to reduce oil production starting next month and possibly reduction of between 400 thousand and one million barrels per day, adding: Iran retreated from its production of crude oil But reports on any decision is incorrect.
Tishreen Newspaper
Al-Watan published a report on the site of the Syrian Oil Syria under the title: Syria-oil.com / first Syriansite news competent oil and gas /. Highlighted the divisions in which the site and fixed doors and interaction achieved great site with your browser.
