OPEC Revenues Fact Sheet
Posted on March 11, 2009 – 9:58 am | by oilandgaspress.com
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Based on projections from the EIA March 2009 Short-Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $383 billion of net oil export revenues in 2009 and $503 billion in 2010. Last year, OPEC earned $970 billion in net oil export revenues, a 42 percent increase from 2007. Saudi Arabia earned the largest share of these earnings, $287 billion, representing 30 percent of total OPEC revenues. On a per-capita basis, OPEC net oil export earning reached $2,686 in 2008, a 40 percent increase from 2007.
Methodology This report includes estimates of OPEC net oil export revenues. For each country, estimates of oil production and consumption from the latest version of the EIA STEO are used to derive net oil exports. We assume that these exports are sold at prevailing spot prices, available on the EIA website here. For countries that export several different crude varieties, we assume that the proportion of total net oil exports represented by each variety is equal to the proportion of the total domestic production represented by that variety: in other words, if we assume that Arab Medium represents 20 percent of total oil production in Saudi Arabia, then we assume that Arab Medium represents 20 percent of total net oil exports from Saudi Arabia.
OPEC Net Oil Export Revenues
OPEC Per Capita Net Oil Export Revenues
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http://www.eia.doe.gov/emeu/cabs/OPEC_Revenues/Factsheet.html
Based on projections from the EIA July 2009 Short-Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $545 billion of net oil export revenues in 2009 and $672 billion in 2010. Last year, OPEC earned $968 billion in net oil export revenues, a 42 percent increase from 2007. Saudi Arabia earned the largest share of these earnings, $285 billion, representing 29 percent of total OPEC revenues. On a per-capita basis, OPEC net oil export earning reached $2,680 in 2008, a 40 percent increase from 2007
OPEC Net Oil Export Revenues
OPEC Net Oil Export Revenues
Country Nominal ($B) Real (2000$B)
2008 Jan-Jun 2009 2008 Jan-Jun 2009
Algeria $69 $17 $56 $13
Angola $68 $17 $55 $13
Ecuador $10 $3 $8 $2
Iran $82 $22 $67 $17
Iraq $60 $16 $49 $12
Kuwait $80 $20 $65 $16
Libya $57 $14 $46 $11
Nigeria $70 $18 $56 $14
Qatar $38 $10 $31 $8
Saudi Arabia $285 $61 $231 $49
UAE $89 $21 $72 $17
Venezuela $59 $13 $48 $10
http://www.eia.doe.gov/emeu/cabs/OPEC_Revenues/Factsheet.html
Tags: Algeria, Angola, Ecuador, EIA July 2009, Fact, Iran, Iraq, Kuwait, Libya, NIGERIA, OIL EXPORT, OPEC Revenues, Qatar, Saudi Arabia, Sheet, UAE, Venezuela
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