For full text of the paper including end-of-paper tables and appendix, click PDF file. I. The background[1] Since the commencement of the production of crude oil in the thirties and forties the oil wealth has transformed the oil countries gradually from low- to middle- and some to high-income countries. In the fifties, with the profit sharing agreements the major Arab oil produ
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Abstract Oil price volatility has always created pressure upon both developed and emerging economies. High oil prices have been blamed for economic downturns in the global economy. Oil producers have suffered widely fluctuating incomes. Price volatility has worsened since 2000 for a variety of factors such as geopolitics, speculation, terrorism, natural disasters, revolutions,
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Download now Petroleum Economist - International Conference, LNG 17 , Houston April 2013 Iran’s threat to close the Strait of Hormuz in response to international sanctions over its nuclear programme is not grabbing the headlines as it was in 2012. But this is an issue that is far from being resolved, writes Luay J Al-Khatteeb of the Iraq Energy Institute.....To
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For full text of the paper including end-of-paper tables and appendix, click PDF file. Introduction and summary Since the establishment of the Arab League in 1945, efforts to free trade amongst Arab countries were considered vital steps on the way to realise economic (and ultimately political) unity. In spite of the impressive array of institutions and structures created within
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