Energy in the Middle East

Energy in the Middle East describes energy and electricity production, consumption and import in the Middle East. Energy policy of the Middle East will describe the politics of the Middle East related to energy more in detail.

Energy export from the Middle East in 2010 was 12,228 TWh. The major exporters were Saudi Arabia 37.2%, Qatar 14.3% and Iran 12.9%.

In 2009 the largest share of oil production was in the Middle East (24 million barrels daily, or 31 per cent of global production. According to Transparency International based on BP data regionally the largest share of proved oil reserves is in the Middle East (754 billion barrels, constituting 51 per cent of global reserves including oil sands and 57 per cent excluding them). According to BP of the world oil reserves were in Saudi Arabia 18%, Iran 9%, Iraq 8%, Kuwait 7% and UAE 7%.

In June 2015, Jim Hollis, CEO of NEOS, during “Oil and Gas: Governance and Integration” forum, stated that Lebanon’s potential offshore natural gas reserves are estimated at 25 trillion cubic feet, according to initial estimates carried out in the country’s exclusive economic zone.

Middle Eastern countries possess about 41 per cent of natural gas reserves. According to BP in 2009 of the proved gas reserves were in Iran 16% and Qatar 14%.

Major energy companies in the Middle East include Saudi Aramco, Qatar Petroleum, Kuwait Petroleum Corporation KPC and National Iranian Oil Company NIOC.

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