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Article: NEW EIA REPORT PROJECTS COSTS TO EXPAND PERSIAN GULF PRODUCTION CAPACITY
- Article from:
- Hart's Petroleum Finance Week
- Article date:
- March 18, 1996
CopyrightCopyright Phillips Business Information Corporation Mar 18, 1996. Provided by ProQuest LLC. (Hide copyright information)
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The importance of Persian Gulf oil supplies to both the U.S. and world petroleum markets will rise from now to 2010. But Persian Gulf countries will need to make considerable investments to increase production capacity to meet growing demand, a new report from the Energy Information Administration (EIA) says.
Persian Gulf countries supply about 27% of world crude oil demand and 22% of U.S. imports, reveals EIA's Oil Production Capacity Expansion Costs for the Persian Gulf. "The currently reported remaining oil reserves for the Persian Gulf countries of Iran, Iraq, Kuwait, Qatar, Saudi Arabia, Abu Dhabi and Dubai total about 19 million barrels per day (assuming Iraqi production at ...