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
|20 Sep 20
||UAE: ADNOC partners with Mubadala and ENEC to drive in-country Value for the UAE
The Abu Dhabi National Oil Company (ADNOC) has signed two framework agreements with Mubadala Investment Company and Emirates Nuclear Energy Corporation (ENEC) to partner on ADNOC’s In-Country Value (ICV) program.
|30 Aug 20
||UAE: NOVATEK ships first LNG cargo to United Arab Emirates
NOVATEK has shipped the first cargo of liquefied natural gas ('LNG') from the Yamal LNG project to the United Arab Emirates under a spot contract.
|05 Aug 20
||UAE: ADNOC L&S and Wanhua Chemical Group form strategic shipping joint venture
ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics subsidiary of the Abu Dhabi National Oil Company (ADNOC), has announced the formation of a new strategic joint venture with Wanhua Chemical Group.
|29 Jul 20
||UAE: EWEC announces partners to develop the world’s largest solar power plant
The Emirates Water and Electricity Company (EWEC), a leading company in the coordination of planning, purchasing and providing of water and electricity across the UAE, has announced the award for the world’s largest solar power plant.
|27 Jul 20
||UAE: ADNOC agrees transfer of rights in its offshore concessions from CNPC to CNOOC
ADNOC has announced its agreement to the transfer of rights in its Lower Zakum and Umm Shaif and Nasr offshore concessions from CNPC to CNOOC. The transfer of concession rights to another key Chinese company reinforces the strong and strategic bilateral ties between the United Arab Emirates and China.
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,