Egypt News

It said in a report published this month that it expects a decrease in the country’s oil production during the monitoring period that runs from 2009 through 2011.

The predictions of the Department of Energy about lower production of liquid oil in Egypt, came in a report titled “The Forecasts of Energy in the Short Term” and focused on non-OPEC supply of oil in 2010 and 2011, which suggested that “the growing supply of petroleum liquids from non-OPEC Members would grow by 420,000 thousand barrels per day during 2010, followed by a decline in 2011, by 140,000 barrels per day.”

The authority said in its report that in addition to Mexico, the United Kingdom and Norway, the three countries that represent the largest share of the decline in the supply of liquid oil from outside OPEC, many of the producers are not members of OPEC and they would also see a decline in production during the current period of monitoring.

Egypt, Malaysia, Yemen, Australia, Argentina, Gabon and Syria were singled out by the department as key nations to watch as declines are expected.

EGYPT NEWS

Email (will not be published)

Name

Title

Comment
 remaining characters

Post