Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi - Energy subsidies major challenge for Gulf states  Join our daily free Newsletter

MENAFN - Arab News - 06/01/2014

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Arab News) Saudi Arabia is considered the biggest country that supports energy prices among GCC states with the value reaching SR228.7 billion (61 billion) in 2011, according to a report from the Diplomatic Center for Strategic Studies.

The report, carried by local media, said the GCC states supported the costs of energy and electricity by more than 100 billion, where the Kingdom supported energy prices by about 61 billion, UAE 22 billion, Kuwait 13 billion and Qatar 6 billion.

The GCC states have taken extensive efforts to reduce energy consumption, taking place in several areas during the past years.
The Gulf states need to take advantage of the experiences of developed foreign countries in the field, the report said.

It said the GCC states are facing several challenges in developing renewable energy as the possibility of development of clean energy in electricity generation is seen as a difficult process.

It said conventional energy is still the best option at the present time. It suggested that exploitation of clean energy (solar-winds) requires greater efforts because in views of the massive price differences between the generation of electricity from renewable energy and conventional sources.

The report said the rate of electricity produced by renewable energy in the Kingdom will reach 27 percent of total energy by 2020. It said the process of identifying the optimum technology for Saudi conditions requires scientific research lasting up to three years.

Referring to the impact of GCC support policies on energy sector, the study stated: "Consumption, which is backed by hundreds of billions, has become a worry for those countries. Government entities started demanding a review of subsidies. The budgets can then be exploited in the production of a variety of sources of energy."

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help