- QatarEnergy selects Nakilat to own and operate 25 conventional LNG vessels
- The joint development of the Dorra field between Saudi Arabia and Kuwait is pending the demarcation of the border with Iran
- Minister of Energy reaffirms the UAE’s commitment to adopting clean energy and supporting the Paris Agreement
- The new Hassi Messaoud refinery enjoys the support of the government and President Tebboune
- Increasing electrical interconnection capacities to export electricity beyond borders
- Qatar Energy stops sending liquefied gas tankers through the Red Sea for security reasons
- The inauguration of the Duqm Refinery, the largest joint Gulf project in the refinery sector
- Saudi oil exports are faltering due to Houthi attacks on ships in the Red Sea and Gulf of Aden
- Algeria to host and chair the Gas Exporting Countries Forum summit (February 29 to March 2, 2024)
- Egypt Energy Conference and Exhibition 2024 gives a strong impetus to the global energy dialogue
Venezuela – a good model for dealing with the oil wealth
Venezuela is considered one of the first countries to open their doors to foreign investment. Having dealt with the recent oil wealth rational manner worthy of attention from the spirit of full awareness that the depleted oil wealth, and that oil revenues will not be eternal and they are vulnerable to the vagaries of global markets and therefore to cope with setbacks up to the borders of disasters.
Therefore Venezuela took a series of decisions involving the use of wise and massive revenue for oil wealth to solve the current problems of domestic waste before the current opportunity that came with the increases in oil prices.
Venezuela has 80 billion barrels of crude oil are 8.8% of OPEC reserves and about 6% of the world, also has 152.4 trillion cubic feet of natural gas constitutes 4.8% of the reserves of OPEC, and about 2.5% of the world’s total.
