Energy doom
[Russian] oil and gas reserves shrinking. “The country's oil reserves shrank by 7.3 billion barrels from 1994 to 2005 as the country failed to replace dwindling West Siberian reserves with new discoveries in East Siberia and other regions, an official said Friday. 'The proportion of reserves that can be extracted has fallen from 42 percent at the start of the 1990s to 27 percent,' Sergei Fyodorov, head of subsoil policy at the Natural Resources Ministry, told a conference.“
Government spending to boost Saudi Arabia GDP. “Riyadh Bank said in a research report... Saudi oil production is expected to fall from an average 9.12 million barrels per day in 2006 to 8.44 million bpd in 2007.”
Gas crunch likely as Mideast races to meet local needs. “...regional demand growth of up to 10 per cent per year is eating into export potential. Widening supply deficits are forcing governments to emphasize meeting domestic needs.”
Algeria may drop GTL plant, delay gas projects on surging costs. “Consuming nations may suffer as Middle East energy producers cut back on spending to expand output capacity from some of the world's largest oil and gas reservoirs because rising construction costs may render some ventures economically unviable. “
Road network to connect China with oil-rich nations. “The vast transport system is a crucial element in Beijing's strategy to tighten trade links with the oil and gas-rich countries of central Asia.”
Government spending to boost Saudi Arabia GDP. “Riyadh Bank said in a research report... Saudi oil production is expected to fall from an average 9.12 million barrels per day in 2006 to 8.44 million bpd in 2007.”
Gas crunch likely as Mideast races to meet local needs. “...regional demand growth of up to 10 per cent per year is eating into export potential. Widening supply deficits are forcing governments to emphasize meeting domestic needs.”
Algeria may drop GTL plant, delay gas projects on surging costs. “Consuming nations may suffer as Middle East energy producers cut back on spending to expand output capacity from some of the world's largest oil and gas reservoirs because rising construction costs may render some ventures economically unviable. “
Road network to connect China with oil-rich nations. “The vast transport system is a crucial element in Beijing's strategy to tighten trade links with the oil and gas-rich countries of central Asia.”