MOBILE DEVICES
Free Headline Alerts     
    DAILY BRIEF           WorldTribune TV
Worldwide Web WorldTribune.com
Front Cover
Daily Brief
Recent Hits
Blog Line
Real World / Photos
Intel Brief
Letters
Archives
World Links
Population Clock
Cartoon
Greatest Hits
Gertz File
Advertising Info
Editorial Board
Advisory Board
Contact Info
What Rush Said

  breaking... 


Friday, June 4, 2010     FOR YOUR EYES ONLY

Gulf states spending $50 billion to increase
oil output

ABU DHABI — The Persian Gulf states have spent $50 billion to increase crude oil production.

ShareThis

Bahraini Energy Minister Abdul Hussein Al Mirza said the six Gulf Cooperation Council states would spend $50 billion by the end of 2010 to bolster crude oil fields and discover additional reserves. Al Mirza said the effort was greatest in Bahrain, Qatar, Saudi Arabia and the United Arab Emirates.

"We are all aware that fossil fuel, the major energy source, will not last indefinitely," Al Mirza told an energy conference on May 18, Middle East Newsline reported. "We must also recognize the GCC commitment toward ensuring supplies of oil to the international markets calls upon them to make huge investment in developing and increasing production capacities."

Also In This Edition

The minister said GCC states were implementing plans to reduce dependency on conventional energy. Al Mirza cited projects to develop solar and nuclear energy over the next decade.

Meanwhile, Israel has found another natural gas field in the Mediterranean Sea.

An Israeli consortium has found an offshore field believed to contain 15 trillion cubic feet of gas off the coast of Israel. Officials said the latest find, located in a field named Leviatan, could help supply Israel's gas needs until 2080.

"We have enough gas to supply all our needs for the next 50 to 70 years," Israeli National Infrastructure Minister Uzi Landau said on June 3.

This marked the second major gas find around Israel in about a month. In May, officials said the Tamar offshore gas field, with an estimated 8.4 trillion cubic feet, could supply energy to Israel until 2030.

About Us     l    Contact Us     l    Geostrategy-Direct.com     l    East-Asia-Intel.com
Copyright © 2010    East West Services, Inc.    All rights reserved.