Middle East / Africa
Country profile: United Arab Emirates
|Location:||Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia|
|Climate:||desert; cooler in eastern mountains|
|Terrain:||flat, barren coastal plain merging into rolling sand dunes of vast desert wasteland; mountains in east|
|Size:||83600 sq. km total (Land area: 83600 sq. km )|
|Languages:||Arabic (official), Persian, English, Hindi, Urdu|
|Government:||federation with specified powers delegated to the UAE federal government and other powers reserved to member emirates|
|Capital city:||Abu Dhabi|
|Legal system:||based on a dual system of Shari'a and civil courts; has not accepted compulsory ICJ jurisdiction|
|Currency:||Emirati dirham (AED)|
The United Arab Emirates (UAE) is an important oil producer with the fifth largest proven oil reserves in the Middle East. The UAE is a member of the Organization of the Petroleum Exporting Countries (OPEC) since joining in 1967. The emirate of Abu Dhabi is the center of the oil and gas industry, followed by Dubai, Sharjah, and Ras al Khaimah. In 2004, natural gas supplied 64 percent of the country’s total energy consumption, and oil supplied the remaining 36 percent. The UAE is a high-income, stable federation of seven emirates with the second largest Arab economy in the Middle East.
The non-oil sectors grew 18.6 percent in 2006 and have tripled during the last three years. Good relations with Asian trading partners and a growing domestic population have helped diversify the thriving economy. However, the country remains dependent on oil revenue, and the government has announced large oil production capacity increases within the next seven years. Abu Dhabi is the major hydrocarbon and industrial power while Dubai is the trading, financial, and tourist center of the emirates. Abu Dhabi and Dubai account for 80 percent of the UAE’s income. Hydrocarbon revenues account for around one-third of the UAE’s GDP, though the non-oil finance and service sectors in Dubai are making the city a favored base for multinational corporations in the Gulf.
Energy production and consumption
|Production:||2 million bbl/day (2006 est.)||45 billion cu m (2005 est.)|
|Consumption:||372,000 bbl/day (2005 est.)||39 billion cu m (2005 est.)|
|Exports:||2 million bbl/day (2006 est.)||6 billion cu m (2005 est.)|
|Imports:||137,200 bbl/day (2005 est.)||1 billion cu m (2005 est.)|
|Reserves:||97 billion bbl (2007 est.)||5 trillion cu m (1 January 2006 est.)|
United Arab Emirates - recent news
|07 May 21
||UAE: PGNiG prepares to drill its first well in the United Arab Emirates
PGNiG starts the second stage of exploration works in Ras Al Khaimah Emirate. The company is at the stage of making design and location arrangements for the first exploration well, which will provide an answer to the question about the production potential of the licence where PGNiG operates.
|19 Apr 21
||UAE: Eni strengthens its presence in the Emirate of Ras Al Khaimah through the award of Onshore Block 7
Eni has been awarded Block 7 located in the onshore of Ras Al Khaimah, United Arab Emirates. Block 7 represents an underexplored acreage in a complex thrust belt geological setting, similar to that of the recent discovery of Mahani in the adjacent Sharjah Emirate.
|14 Apr 21
||UAE: ADNOC Logistics and Services continues strategic expansion with acquisition of two additional VLCCs
ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), has announced the acquisition of two additional Very Large Crude Carriers (VLCC), bringing the total number of VLCCs added to its fleet in 2021 to eight.
|24 Mar 21
||Mubadala and Snam sign MoU to explore potential opportunities to foster hydrogen development in the UAE
Mubadala Investment Company and Snam, one of the world’s leading energy infrastructure operators, have signed a Memorandum of Understanding (MoU), with the aim to collaborate on joint investment and development initiatives on hydrogen.
|10 Mar 21
||UAE: PETRONAS seeks collaborations with UAE global energy players
PETRONAS has signed two Memoranda of Understanding (MoU) with United Arab Emirates-based Abu Dhabi National Oil Company (ADNOC) and Masdar to pursue collaborations across the energy value chain.
United Arab Emirates - more news
Other countries in this region
- Central Africa Republic,
- Congo (Brazzaville),
- Congo (Democratic Rep.),
- Cote d'Ivoire,
- Equatorial Guinea,
- Guinea (Republic),
- Guinea Bissau,
- Sao Tome,
- Saudi Arabia,
- Sierra Leone,
- South Africa,
- South Sudan,
- Western Sahara,