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FINANCIAL NEWS
UAE’s 2010 energy demand up 2.14%
22 Jun 2011
(MENAFN) The Organization of Arab Petroleum Exporting Countries (OAPEC) reported that last year, UAE became the Arab world’s second largest consumer of oil and other hydrocarbon products since its energy demand went up by 2.14 percent, reported Emirates 24/7.
The organization added that in 2010, total energy consumption of oil in the country rose to around 1.478 million equivalent barrels per day (ebpd) from 1.447 million ebpd in the previous year.
It also said that last year, the demand of oil products in the UAE stood at 358,000 bpd, while it was estimated at 1.82 million bpd in Saudi Arabia, 700,000 in Egypt, 500,000 bpd in Iraq, 440,000 bpd in Kuwait, 330,000 bpd in Algeria and 306,000 bpd in Syria.
It is worth noting that Saudi Arabia remained the top energy consumer in the Arab world, whereas Egypt receded to the third position after it was overtaken by the UAE.
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