Oil hit an all-time high of $80.36 last week, and OPEC surprised some observers by cautiously raising oil production by 500,000 bpd — subject, says Iran’s oil minister Gholam Hossein Nozari, to a clawback if the rise in production leads to lower prices.
Meanwhile, Iran is dealing with its own energy crisis:
The International Energy Agency (IEA) has said that petrol rationing in Iran will only lead to a 10% reduction in demand at best and not the 30% decrease that the Iranian government is hoping for, reported Gulf News. Iran has to import large amounts of petrol to meet local demand as it lacks the refining capacity to produce sufficient quantities itself. Petrol imports cost Iran around $5bn last year.
Jordan wants to alleviate oil consumption by bringing on line its first nuclear power station within ten years:
Jordanian Nuclear Energy Authority DG Zyad Al Qada said the kingdom is considering its power requirements post 2015 but electricity generation via other fuels will still provide 75% of the country’s needs. Meanwhile, Al Qada revealed uranium has been found in six locations in Jordan.
And even Qatar is looking into alternative energy:
Qatar Fuel may consider offering liquefied petroleum gas as an alternative vehicle fuel to the public, reported The Peninsula. Woqod, the sole distributor of LPG in Qatar, has teamed up with Mowasalat to launch the first LPG-fuelled taxi in Qatar. Mark Vidler, Marketing Manager of Woqod, said the company would consider offering LPG, also called Autogas, as an alternative fuel to the public if the experiment with Mowasalat is deemed a success.
Via AMEInfo. And still we’re burning oil like there’s no tomorrow.