Quotes: 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."

 


Arab News




  MENA News Headlines
 May 26 2015 - Qatar - HH the Emir Attends "Buzzard 4" SeminarQatar News Agency
(MENAFN - QNA) HH the Emir Sheikh Tamim bin Hamad Al-Thani attended Tuesday a part from the senior commanders seminar for the joint military drill "The Buzzard 4", organized by the Qatari Armed ...

 May 26 2015 - Kuwaiti Foreign Minister Meets Yemeni CounterpartQatar News Agency
(MENAFN - QNA) Kuwait's First Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah met Tuesday with his Yemeni counterpart Riyadh Yaseen, whose country is taking part in ...

 May 26 2015 - Bahrain arrests wanted fugitive and confiscates weapons used for terrorist activitiesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Security authorities in the Kingdom of Bahrain have announced the arrest of a wanted fugitive and the confiscation of a number of weapons used for terrorist ...

 May 26 2015 - UAE to participate in International Transport Forum 2015 SummitEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The UAE is to participate in the International Transport Forum 2015 Summit in Leipzig, Germany, from 27th-29th May, 2015.A delegation from the Federal Authority ...

 May 26 2015 - Mohammed bin Rashid attends brainstorming session to discuss future of Smart GovernmentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, has attended a brainstorming session attended by 100 ...

 May 26 2015 - UAQ Crown Prince briefed on NCEMA's programmes and plansEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) H.H. Sheikh Rashid bin Saud bin Rashid Al Mu'alla, Crown Prince of Umm Al Qaiwain, has been briefed on strategic programmes, objectives, specialties and plans of ...

 May 26 2015 - UAE Project Management Conference opens opportunities and challenges in project management fieldEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The first UAE Project Management Conference and Exhibition was launched yesterday. It was attended by speakers from the UAE, the Gulf Region, and experts from ...

 May 26 2015 - Nahyan affirms importance of innovative thoughts, adoption of UAE VisionEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture, Youth and Community Development, emphasised the importance of studying government excellence system and ...

 May 26 2015 - Five UAE sites identified as areas of global biological and ecological importance globallyEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The UAE has identified five sites as areas of global biological and ecological importance during the recently-concluded regional workshop on Ecologically or ...

 May 26 2015 - Yemeni President meets Hadramout Alliance leadersSaudi Press Agency
(MENAFN - Saudi Press Agency) Yemeni President Abed Rabbo Mansour Hadi has met with Hadramout Alliance leaders and discussed with them the current developments at the national level and what Yemen ...

more...


 






Google

Internatinal Property Show

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help