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CHAPTER ONE
Developments in Global Markets
in 2012. In terms of other Arab countries, Jordan established a
committee consisting of Ministry of Energy and mineral resources,
Ministry of Finance, and Jordan Petroleum Refinery Company
which conduct monthly meeting in order to review local prices of oil
products and modify them in line with international prices trends in
global markets.
1-2 Energy Consumption by Source
Energy consumption in Arab countries witnessed noticeable
fluctuation in the rates of increase during the period 2009 - 2012
as it increased by 8.4% in 2010 to reach 12.6 million barrels of oil
equivalent per day (boed) compared with about 11.6 million boed
in 2009. The growth rate then declined to 2.2% in 2011, where the
consumption level stood at slightly more than 13 million boed.
Preliminary estimates indicate the energy consumption in Arab
countries in 2012 has resumed growth rate of 5.1% with a total
consumption of 13.5 million boed.
Arab countries rely almost entirely on petroleum resources to
meet their energy needs as the share of oil and natural gas in total
energy consumption in Arab countries rose from 98.2% in 2009
to 98.4% in 2012. At the same time the share of other sources of
energy (hydroelectric and coal ) decreased from 1.8% to 1.6%. It
is noteworthy that for the first time in 2010 the size of natural gas
consumption exceed the consumption of oil in Arab countries to
reach nearly 6.3 million boed in 2010, compared with more than
6.1 million boed, and this trend continued during 2011 and 2012, as
preliminary estimates indicate that natural gas consumption in 2012
amounted to 6.75 million boed versus nearly 6.6 million boed of oil.
And thus natural gas occupies first place with a share of 49.8%, and
oil fell to second place with a share of 48.6% in 2012.
