DOWNSTREAM IN THE PERSIAN GULF-1
Abdullah M. Aitani, Syed Halim Hamid King Fahd University of Petroleum & Minerals Dhahran Saudi Arabia
By the end of 1996, the Gulf Cooperation Council (GCC) countries held 466 billion bbl of crude oil reserves and 22,545 billion cu m of natural gas, representing, respectively, about 45% and 15% of the world's proven reserves. The GCC comprises Saudi Arabia, Kuwait, the United Arab Emirates (U.A.E.), Bahrain, Qatar, and Oman.
GCC countries are building on this base by becoming increasingly prominent in downstream operations. GCC refining capacity increased from 1.7 million b/d in 1980 to 3.1 million b/d in 1995 and is projected...