Dubai Crude Oil Marketing
Dubai’s natural oil and gas products are the largest contributor to the nation’s economy. The country has managed and marketed its natural resources remarkable well. No wonder that it is today a rich nation. |
Sponsored Links :
|
Dubai has hydrocarbon reserves that are being sold judiciously. This is keeping in mind the world’s growing dependence on crude oil. Production of oil has thus become very important. This is to meet the local demand, from industrial and domestic consumers, and of course for export, which is the mainstay of the economy. Crude is also needed to run power generators and water desalination plants in the country. The country generates around 240,000 barrels daily of oil. Gas is another product that comes from both its onshore and offshore natural gas fields. Dubai’s exports are almost entirely to Japan and along with the rest of the UAE it supplies almost one-eighth of Japan's entire requirements.
Dubai’s main offshore field is Fateh, Southwest Fateh and two smaller fields, Falah and Rashid. Its only onshore crude oil field is the Margham field. The country has two per cent share of UAE’s gas reserve. For domestic market, Dubai takes gas from Sharjah through a pipeline constructed in 1992. Dubai’s oil reserves have seen a reduction in the past ten years. Its natural resources are speculated to last for the next twenty years. Dubai plays a very important role in international oil market by maintaining peaceful relations within OPEC. This it achieves by adhering to the agreements made as a member of OPEC. It also reduced its production of oil in keeping with the 1999 guidelines of OPEC.
More Articles :
|
Dictionary defines barrel as ‘A large cylindrical container, usually made of staves bound together with hoops, with a flat top and bottom of equal diameter’. It is normally used to contain substances that are in liquid state, example, water and oil. 
