Transforming GCC’s Oil and Industry in the 21st Century: Opportunities and Challenges

Edited by: Vijo Varkey Theeyattuparampil and Ali Vezvaei
Publisher: Gulf Research Center Cambridge
Published year: 2014
GRM year: 5

For decades, GCC countries have relied on conventional oil and gas revenues to power their economies. Advancements in the up-, mid-, and, down-stream technologies in unison with supportive regulatory and political systems, has positioned GCC as a leading exporter of oil and gas. However, findings of new oil and gas reserves from unconventional sources are expected to rival the region as leading exporters of oil and gas. This has introduced both opportunities and challenges for the regional hydrocarbon industry. In this study, the drivers and barriers in the oil and gas industry across three focus areas are identified: technical, regulatory, and, economics. As an outcome, key recommendations for GCC policy-makers that could support the development of GCC’s hydrocarbon industry are put forward. In Search of Stability: Saudi Arabia and the Arab

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