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Country Analysis Brief: Egypt

August 26, 2014 Comments off

Country Analysis Brief: Egypt
Source: Energy Information Administration

Egypt is the largest oil producer in Africa outside of the Organization of the Petroleum Exporting Countries (OPEC), and the second-largest natural gas producer on the continent, behind Algeria. Egypt plays a vital role in international energy markets through the operation of the Suez Canal and Suez-Mediterranean (SUMED) Pipeline.

The Suez Canal is an important transit route for oil and liquefied natural gas (LNG) shipments traveling northbound from the Persian Gulf to Europe and North America and southbound shipments from North Africa and countries along the Mediterranean Sea to Asia. The SUMED Pipeline is the only alternative route nearby to transport crude oil from the Red Sea to the Mediterranean Sea if ships were unable to navigate through the Suez Canal. Fees collected from the operation of these two transit points are significant sources of revenue for the Egyptian government.

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EIA mapping tool shows which U.S. energy facilities are at risk from flooding

August 8, 2014 Comments off

EIA mapping tool shows which U.S. energy facilities are at risk from flooding
Source: Energy Information Administration

The public now has a new online tool to help inform them about energy facilities’ exposure to flooding caused by hurricanes, overflowing rivers, flash floods, and other wet-weather events. Developed by the U.S. Energy Information Administration (EIA), the Flood Vulnerability Assessment Map, shows which power plants, oil refineries, crude oil rail terminals, and other critical energy infrastructure are vulnerable to coastal and inland flooding.

The mapping tool combines EIA’s existing U.S. Energy Mapping System with flood hazard information from the Federal Emergency Management Agency (FEMA) and represents EIA’s latest step in making energy data more accessible, understandable, relevant, and responsive to users’ needs.

Country Analysis Brief: Azerbaijan

August 4, 2014 Comments off

Country Analysis Brief: Azerbaijan
Source: Energy Information Administration

Azerbaijan, one of the oldest oil producing countries in the world, is an important oil and natural gas supplier in the Caspian Sea region, particularly for European markets. Although traditionally it has been a prolific oil producer, Azerbaijan’s importance as a natural gas supplier will grow in the future as field development and export infrastructure expand. The conflicting claims over the maritime and seabed boundaries of the Caspian Sea between Azerbaijan and Iran continue to cause uncertainty, with Iran challenging Azerbaijan’s hydrocarbon exploration in offshore areas claimed by both sides.

Natural gas accounted for about 67% of Azerbaijan’s total domestic energy consumption in 2012. Oil accounted for 30% of total energy use, and hydropower contributed a marginal amount. Overall, Azerbaijan is a net energy exporter. The country swaps small volumes of natural gas with Iran—the Nakhchivan exclave receives all of its natural gas from Iran, because it is not connected to Azerbaijan’s pipeline network.

Oil and gas production and exports are central to Azerbaijan’s economy. The country’s economy is heavily dependent on its energy exports, with more than 90% of total exports accounted for by oil and gas exports, according to data from the International Monetary Fund.

EIA — OPEC Revenues Fact Sheet

July 28, 2014 Comments off

OPEC Revenues Fact Sheet
Source: Energy Information Administration

The U.S. Energy Information Administration (EIA) estimates that, excluding Iran, members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $826 billion in net oil export revenues in 2013. This was a 7% decrease from 2012 earnings, but still the second-largest earnings totals during the 1975-2013 period for which EIA has tracked OPEC oil revenues. OPEC earnings declined largely for two reasons: a drop in OPEC oil production in 2013 (largely because of the supply disruption in Libya), and a 3% decline in average crude oil prices (as measured by the Brent crude oil price marker).

Saudi Arabia earned the largest share of these earnings, $274 billion in 2013, representing approximately one-third of total OPEC oil revenues. On a per capita basis, OPEC (excluding Iran) net oil export earnings reached about $2,520 in 2013. These net export earnings do not include Iran’s revenues, because of the difficulties associated with estimating Iran’s earnings, including the country’s inability to receive payments and possible price discounts Iran offers its existing customers.

Based on projections from EIA’s July 2014 Short-Term Energy Outlook (STEO), EIA estimates that OPEC (excluding Iran) could earn about $774 billion in net oil export revenues in 2014 and $723 billion in 2015 (unadjusted for inflation). These declines from the 2013 level are the result of projected declines in the call on OPEC crude oil production because of the large increases in non-OPEC production for 2014-15, as well as expected crude oil price declines that are also the result of declines in the call on OPEC crude oil production.

Country Analysis Brief: Algeria

July 25, 2014 Comments off

Country Analysis Brief: Algeria
Source: Energy Information Administration

Algeria is the leading natural gas producer in Africa, the second-largest natural gas supplier to Europe outside of the region, and is among the top three oil producers in Africa. Algeria became a member of the Organization of the Petroleum Exporting Countries (OPEC) in 1969, shortly after it began oil production in 1958. Algeria’s economy is heavily reliant on revenues generated from its hydrocarbon sector, which account for about 30% of the country’s gross domestic product (GDP), more than 95% of export earnings, and 60% of budget revenues, according to the International Monetary Fund (IMF).

Country Analysis Brief: Iran

July 24, 2014 Comments off

Country Analysis Brief: Iran
Source: Energy Information Administration

Iran holds some of the world’s largest deposits of proved oil and natural gas reserves, ranking as the world’s fourth-and second-largest reserve holder of oil and natural gas, respectively. Iran also ranks among the world’s top 10 oil producers and top 5 natural gas producers. Iran produced 3.2 million barrels per day (bbl/d) of petroleum and other liquids in 2013 and more than 5.6 trillion cubic feet (Tcf) of dry natural gas in 2012.

The Strait of Hormuz, on the southeastern coast of Iran, is an important route for oil exports from Iran and other Persian Gulf countries. At its narrowest point, the Strait of Hormuz is 21 miles wide, yet an estimated 17 million bbl/d of crude oil and oil products flowed through it in 2013 (roughly one-third of all seaborne traded oil and almost 20% of total oil produced globally). Liquefied natural gas (LNG) volumes also flow through the Strait of Hormuz. Approximately 3.9 Tcf of LNG was transported via the Strait of Hormuz in 2013, almost all of which was from Qatar, accounting for about one-third of global LNG trade.

Country Analysis Brief: India

July 4, 2014 Comments off

Country Analysis Brief:  India
Source: Energy Information Administration

India was the fourth-largest energy consumer in the world after China, the United States, and Russia in 2011, and its need for energy supply continues to climb as a result of the country’s dynamic economic growth and modernization over the past several years. India’s economy has grown at an average annual rate of approximately 7% since 2000, and it proved relatively resilient following the 2008 global financial crisis.

The latest slowdown in growth of emerging market countries and higher inflation levels, combined with domestic supply and infrastructure constraints, have reduced India’s annual inflation-adjusted gross domestic product (GDP) growth from a high of 10.3% in 2010 to 4.4% in 2013, according to the International Monetary Fund (IMF). India was the third-largest economy in the world in 2013, as measured on a purchasing power parity basis. Risks to economic growth in India include high debt levels, infrastructure deficiencies, delays in structural reforms, and political polarization between the country’s two largest political parties, the Indian National Congress and the Bharatiya Janata Party (BJP).

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