Regional Market Overview

December 2007
UAE Oil & Gas Report;Q1 2008, p19
Industry Profile
The article presents an outlook for the petroleum industry in the Middle East/Africa from 2008 to 2011. The huge and largely untapped reserves of the Arabian Gulf States will allow it to dominate oil supply in the region. However, West and North Africa are predicted to have a role in the region, given Angola's offshore deepwater wealth. The oil expansion in Nigeria will be hampered by domestic political problems, while Libya is exploiting the return of the U.S. oil companies to aim for rapid supply growth.


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