Research

Challenges in Economic Diversification in the MENA Countries

By: Bassam Fattouh , Anupama Sen

Economic diversification has been a continuous topic of debate in the MENA economies. However, of late a sense of urgency has arisen around it due to two factors; rapid structural changes in global oil markets and structural shifts in oil trade flows, and, assertions around ‘peak demand’ with the world on the brink of another […]

Iraqi Oil: industry evolution, production dynamics and future competitiveness

By: Ahmed Mehdi

Iraq is expected to make one of the largest contributions to OPEC production growth out to 2020 (having already added 1.7-1.8m b/d from 2011-2016). IOC’s in Southern Iraq have been the major contributors of growth, having added 2.3-2.4m b/d since 2009 (with approximately 700,000 b/d offsetting declines). Despite Iraq’s prized position in having some of […]

Gulf NOC strategies in Asia

By: Loftur Thorarinsson

Confronted with slowing demand for crude oil, NOCs are increasingly diversifying from the upstream and investing in the downstream sector both in their home markets and in consuming countries to ensure market share. Already more than 75 percent of Gulf NOC oil exports are destined for Asian markets, and more than 70 percent of new […]

Saudi Arabia’s Energy Pricing Reform in a Changing Domestic and Global Context

By: Bassam Fattouh

It is often implied that economic adjustments and structural reforms are very difficult in the context of rentier economies. Yet recent experience shows that in response to the declines in oil price and uncertainties surrounding oil markets, GCC countries have been able to introduce some limited reforms with relative ease and, so far, without much […]