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Oil In UAE

Tue Nov 07, 2006 7:31 pm

From what I heard only Abu Dhabi and Dubai have oil (Abu Dhabi has more) and other Emirates have no oil. Can anyone confirm that?
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RE: Oil In UAE

Tue Nov 07, 2006 7:50 pm

Still, even in the most arid desert is an airport somewhere ...
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Joined: Wed Jan 14, 2004 5:08 pm

RE: Oil In UAE

Tue Nov 07, 2006 9:48 pm

Dubai sources only around 10% of it's income from oil...pretty sure they only pump around 160,000 barrels per day, that's not expected to last any longer then 2 decades.

abu dhabi is a different matter altogether.
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RE: Oil In UAE

Wed Nov 08, 2006 6:15 am

Something like 85% of the oil in the UAE under the control of Abu Dhabi. The lion's share of the rest is in Dubai, but as QFF said, oil is nearly as major a source of income for Dubai as it used to be.

In fact, Dubai petrol retailers have to buy gasoline at international market prices from Abu Dhabi and sell it at a huge loss (the UAE national petrol price, something like 6.5 Dirham a gallon, which is about $1.8). Though I think Abu Dhabi is beginning to subsidize this a little bit.

At $1.80 a gallon petrol is quite expensive here compared to other countries in the region.

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