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ENERGY

 

The Outlook for the World Oil Market
by John Browne
"..I think it is appropriate to start with the immediate events which are shaping people's thinking about the market and raising new concerns about the question of energy security.  The price of Brent on the international market has fluctuated over the last 12 months from around $25/B a year ago to over $45/B for a period in the autumn to just below $40/B today.  To understand the reasons for those shifts, you have to look back at the events of the last five years.  What's changed and what are the consequences of those changes?  Back at the end of the 1990s, we all were accustomed to an oil price which averaged a reasonably stable $18/B, with only very occasional excursions into the low $20s, and one brief fall at the end of the 1990s to $10.  That was the picture for a decade, from the end of the first Gulf war onwards."                                                       [more]

 
An oil tanker takes on crude at Saudi Aramco's Rabigh port on the Kingdom's western Red Sea coast. (Photo by Ken Childress/Saudi Aramco/PADIA)Saudi Arabia: Economic, Oil And Mineral Restructuring And Reforms
By Ali Naimi
"Even though our conference considers the entire region, I want to talk mainly about my country, Saudi Arabia, a preeminent economic power in the region, with an economy that ranks among the top 25 largest economies in the world. Saudi Arabia accounts for fully one fifth of the GDP of the entire Middle East, including Turkey. Whatever takes place in Saudi Arabia has an enormous effect on the region and, to some extent, the global economy as well. Equally important for the future of the region, Saudi Arabia has seen a remarkable resurgence of investors confidence in the last five years, a fact which has not been sufficiently noted outside the region.
." -- Ali Naimi
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Foreign Investment In Saudi Arabia's Energy Sector
By Gawdat Bahgat
"The kingdom's adherence to the state-control policy of its energy sector came into question in September 1998 when Crown Prince 'Abd Allah ibn 'Abd al-'Aziz met in Washington with senior executives from seven American oil companies. He said the Saudi government wanted to join them in a new, strategic energy partnership.."
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Saudi Arabian Oil Fields Brimming
"If global petroleum markets required it, Saudi Aramco could nearly double its current world-leading oil production output to 15 million barrels a day and comfortably sustain that rate for at least 50 years.."
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Saudi Arabia Ready to Boost Crude Oil Output 
"Saudi Arabia, the world's largest oil producer, announced August 11 that it was ready to increase the Kingdom's crude oil production to help reduce and stabilize high oil prices. The Kingdom estimated that it could increase production by 1.3 million barrels of oil per day (BPD) if necessary.."
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Homemade Oil Crisis
By David Ignatius
"Desperate to slow the recent rise in oil prices, finance ministers from the Group of Eight industrialized countries last weekend demanded that OPEC countries raise their production, arguing in their communique that 'lower oil prices would be of benefit to the whole world economy.' Since Saudi Arabia is the only OPEC country with much spare capacity, that put the kingdom back in the familiar position of receiving entreaties from skittish Europeans, Japanese and Americans.." 
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Novak: Bandar, Bush and Plan of Attack
By Robert Novak
"Did President Bush really brief Prince Bandar on his Iraq war plans before he informed Colin Powell? Did the Saudi ambassador really cut a deal with the Bush administration to increase oil production in time for the presidential election? The answer to both questions is no, but those allegations entered the election year bloodstream thanks to distortion of Bob Woodward's Plan of Attack.."
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Saudi Arabia's Oil Reserves
By Dr. Sadad Al-Husseini
"Recent media reports have suggested Saudi Arabia may not be able to supply its share of the world oil demand for the near future. 'Experts' have argued in major U.S. papers and at energy forums that not only are the Kingdom's petroleum reserves overstated but also that the Kingdom has rejected necessary foreign investments in its energy sector and that poor production practices have damaged its oilfields.."
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Saudis Out to Help the U.S., Not Push for Bush Re-election 
By Frank Richter
"Bob Woodward's book 'Plan of Attack' gave critics of President George W. Bush a chance to launch an attack of their own. Their target was Bush's cozy relationship with the Saudis, something that could become an election issue. In his book, Woodward reports that just before the Iraq war, Saudi Ambassador Prince Bandar promised the president that the Saudis hoped to fine-tune oil prices over 10 months to prime the economy for 2004.."

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U.S.-Saudi Relations and Global Energy Security 

James Wolfensohn
President, The World Bank, with introduction by Eric Peterson
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Ibrahim Al-Assaf
Minister of Finance, Kingdom of Saudi Arabia, with introduction by Eric Peterson
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Rex W. Tillerson
President, Exxon Mobil Corporation, with introduction by Dan Yergin
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Abdallah S. Jum'ah
President and CEO of Saudi Aramco, with introduction by Dan Yergin
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Guy Caruso
Administrator, Energy Information Administration, with introduction by Dan Yergin

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Kyle McSlarrow
Deputy Secretary of Energy, U.S. Energy Department, with introduction by Brent Scowcroft

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Ali al-Naimi 
Minister of Petroleum and Mineral Resources, Kingdom of Saudi Arabia, with introduction by Brent Scowcroft

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International Energy Outlook 2004 Highlights
"Over the past several decades, oil has been the world's foremost source of primary energy consumption, and it is expected to remain in that position throughout the 2001 to 2025 period.."
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Future of Global Oil Supply: Saudi Arabia
A Conference Hosted at the Center for Strategic and International Studies on Feb. 24, 2004
 
 
Saudi Arabia
Country Analysis Brief

Energy Information Administration
US Dept of Energy

With one-fourth of the world's proven oil reserves, Saudi Arabia is likely to remain the world's largest oil producer for the foreseeable future. During 2002, Saudi Arabia supplied the United States with 1.5 million barrels per day of crude oil, or 17%, of U.S. crude oil imports during that period. 

[more]  [Updated periodically]

 

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