status of education report
EGYPTIAN GOVERNMENT NEWSLETTER
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Oil Production and consumption in egypt
Most Recent (2013) according to indexmundi (bbl/day is the number of thousand barrels of oil per day):
Oil Production: 514.42 bbl/day
Oil Consumption:738.00 bbl/day
Country Data gave me a lot of really good information. I learned that Egypt is the largest non-OPEC oil producer in Africa and the second-largest dry natural gas producer on the continent. The country also serves as a major transit route for oil shipped from the Persian Gulf to Europe and the United States. The Suez Canal is an important transit route for oil and liquefied natural gas (LNG) shipments traveling northbound from the Persian Gulf to Europe and North America and southbound shipments from North Africa and countries along the Mediterranean Sea to Asia. Egypt is the largest oil and natural gas consumer in Africa, accounting for more than 20% of total oil consumption and more than 40% of total dry natural gas consumption in Africa in 2013. Energy subsidies, which cost the government $26 billion in 2012, have contributed to rising energy demand and a high budget deficit.Lastly, I learned that one of Egypt’s major challenges is to satisfy increasing oil demand amid falling production. Total oil consumption grew by an annual average of 3% over the past 10 years, averaging almost 770,000 bbl/d in 2013.
According to what I saw on indexmundi.com, the number represents thousand of barrels per day. In the past, Crude Oil Production was previously more than consumption. In 1980 the production of Crude Oil in Egypt was 595.00, and the consumption was only 260.00. In 1990, Production was 873.00 and the consumption was 465.04. If we jump to 2000, the production was 768.33 and the consumption was 538.80. But as the world develops, more people use cars, etc, More Crude oil is being consumed. 2005 was the first year that consumption was more than production. Production was only 623.32, and consumption was 657.55. Since 2005, those numbers have continued to go in opposite directions, with Production being less than consumption. Most recently in 2013, Production was 514.42 and Consumption was 738.00.
Questions:
-At the rate of consumption compared to production, will we ever run out of oil?
-What is the main source of consumption of Crude Oil in the country? Is it from cars?
-Will Production outnumber consumption ever again?
Oil Production: 514.42 bbl/day
Oil Consumption:738.00 bbl/day
Country Data gave me a lot of really good information. I learned that Egypt is the largest non-OPEC oil producer in Africa and the second-largest dry natural gas producer on the continent. The country also serves as a major transit route for oil shipped from the Persian Gulf to Europe and the United States. The Suez Canal is an important transit route for oil and liquefied natural gas (LNG) shipments traveling northbound from the Persian Gulf to Europe and North America and southbound shipments from North Africa and countries along the Mediterranean Sea to Asia. Egypt is the largest oil and natural gas consumer in Africa, accounting for more than 20% of total oil consumption and more than 40% of total dry natural gas consumption in Africa in 2013. Energy subsidies, which cost the government $26 billion in 2012, have contributed to rising energy demand and a high budget deficit.Lastly, I learned that one of Egypt’s major challenges is to satisfy increasing oil demand amid falling production. Total oil consumption grew by an annual average of 3% over the past 10 years, averaging almost 770,000 bbl/d in 2013.
According to what I saw on indexmundi.com, the number represents thousand of barrels per day. In the past, Crude Oil Production was previously more than consumption. In 1980 the production of Crude Oil in Egypt was 595.00, and the consumption was only 260.00. In 1990, Production was 873.00 and the consumption was 465.04. If we jump to 2000, the production was 768.33 and the consumption was 538.80. But as the world develops, more people use cars, etc, More Crude oil is being consumed. 2005 was the first year that consumption was more than production. Production was only 623.32, and consumption was 657.55. Since 2005, those numbers have continued to go in opposite directions, with Production being less than consumption. Most recently in 2013, Production was 514.42 and Consumption was 738.00.
Questions:
-At the rate of consumption compared to production, will we ever run out of oil?
-What is the main source of consumption of Crude Oil in the country? Is it from cars?
-Will Production outnumber consumption ever again?
Economics of Egypt
What will be produced with your country’s resources?
Oil(Crude oil, Petroleum products), Cotton, Metal products, Textiles, Rice, Wheat, Corn, fruits & vegetables, Cattle, Chemicals, Sheep
How will these goods be produced?
Goods like all of the different types of food, animals, cotton, etc. are farmed near the Nile River where the soil is perfect for doing just that. Also, Egypts manufacturing sector contributes about one third to GDP each year. It includes firms that produce textiles, food products, chemicals, pharmaceuticals, cement, metals. And as far as oil,
Egypt produces 630,600 barrels of oil a day, and exports 155,200 barrels per day, approximately. The country has very large oil reserves.
Who will use these goods?
Egypt’s main export partner is the United States, as well as Italy, Spain, France, Syria, Germany, and Saudi Arabia.
Will these goods be exported?
Yes they will be exported, but not everything.
Oil(Crude oil, Petroleum products), Cotton, Metal products, Textiles, Rice, Wheat, Corn, fruits & vegetables, Cattle, Chemicals, Sheep
How will these goods be produced?
Goods like all of the different types of food, animals, cotton, etc. are farmed near the Nile River where the soil is perfect for doing just that. Also, Egypts manufacturing sector contributes about one third to GDP each year. It includes firms that produce textiles, food products, chemicals, pharmaceuticals, cement, metals. And as far as oil,
Egypt produces 630,600 barrels of oil a day, and exports 155,200 barrels per day, approximately. The country has very large oil reserves.
Who will use these goods?
Egypt’s main export partner is the United States, as well as Italy, Spain, France, Syria, Germany, and Saudi Arabia.
Will these goods be exported?
Yes they will be exported, but not everything.