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	Welcome to Middle East Center for Energy Information (MECEI)     World economy suffers the worst global economic recession in decades     New Oil & Gas discoveries in poorest countries     Anadarko to reveal an important oil discovery in the deep waters off Sierra Leone     Chevron strike a largest gas discovery in the last ten years In Bangladesh     World has 42 years of oil reserves     Global oil reserves to slow pace     OPEC proved reserves stand above 900 Billion Barrels     Top ten countries in oil reserves consequently are: S. Arabia, Iran , Iraq , Kuwait, UAE, Venezuela, Russia, Libya, Kazakhstan, Nigeria     Oil producers face a future of diminishing demand     Oil producers say: Energy Security is a two-way street, securing demand and securing supplies     Lack of investments reduce oil production 9% annually     Natural Gas is likely to be the primary growth engine of Egypt's energy sector for the foreseeable future     Egyptian Natural Gas Flowing to Lebanon after the completion of the final arrangements necessary to receive gas     Market still suffers oversupply     OPEC producers became anxious about falling global oil demand creating a glut in the market that led to slow down the prices     Oil prices are not away from downturn, with prospects for limited higher prices     IEA to cut oil demand forecasts many times during 2009     85 million b/d are expected for World Oil Demand in 2010     Oil demand's rebound seems to slow     Oil prices to exceed $ 75/b in December 2009     King Abdullah of Saudi Arabia: $75 / Bbl Is Fair     Global recession continues if prices exceed $ 70     Oil prices are not away from decline     It is not likely that oil prices will achieve high improvement in the next year 2010     Prince Saud Al-Saud, SABIC's - Chairman: "SABIC is well-positioned to meet the challenges imposed by the current economic circumstances"     Mohamed Al-Mady, SABIC's Vice Chairman and CEO: "Variety of activities reduces the implications of global credit & financial crisis"     UAE will go ahead with the expansion projects despite the drop in oil prices     Kuwait oil production capacity to touch 3 million barrels per day     Oman to continue efforts to increase production     Iraq towards 3 million barrels per day by 2010     Libya to establish the "Supreme Council for Energy Affairs."     Ambitious program to boost Libyan oil reserves     Algeria to raise gas production 30% by 2012     Algeria reported 9 new gas discoveries during first half 2009     Egypt plans to increase oil output to 800,000 barrels per day     Japan's oil self supply Ratio less than 1%     Mexico's oil production to go down     China towards more reliance on imported gas     Saudi Oil Minister: No need to increase the Kingdom's production capacity than the target of 12.5 million b/d at least up to the year 2020     Kuwaiti Oil Minister "Ahmad Abdullah al-Sabah": Need to see oil prices to range between 70 and 80 dollars a barrel, and the impossible prices per barrel of oil is less than $60     Qatar Minister of Energy and Industry "Abdullah bin Hamad Al Attiyah": Qatar Shell GTL Plant set for 2010 the world's largest such plant will start in 2010     UAE Minister of Petroleum "Mohamed El Hamli": The world needs huge oil investments in order to avoid another cycle of high oil prices     "Shokri Ghanem, chairman of Libya's NOC and the top OPEC official for Libya": Oil prices could top US$ 90 this year and should average US$ 70 - 80 a barrel in 2009
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