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ePaper created 2012-06-20, 16:50:32 | version 1.23.6
International Issue Two 2008 25 Photos:picturealliance From the window of an airplane approach- ing Dubai, United Arab Emirates, the vis- itor first notices the skyline, one of flair and futuristic immensity, rising abruptly from rolling sand dunes. Buildings 350 metres tall, an indoor ski slope, and countless clus- ters of construction cranes compose what is self-described as the “21st century city of the world.” Located in one of the world’s most inhospitable climates, the UAE seems to be doing just fine. Occupying 83,600 km² on the south-eastern shore of the Per- sian Gulf, it stretches nearly to the Straits of Hormuz in the north. The country borders Saudi Arabia to the west and south, and Oman to the east. The climate remains ex- treme, with minimal rainfall during winter months. For half of the year, the temperature is extremely pleasant, although temperatures in summer surpass 50° C with paralyzing 90 per cent humidity. Dubai is the second largest emirate in total area behind Abu Dhabi, the capital of UAE. Sitting on 9 per cent of the world’s proven oil reserves (98.2 bn barrels) and almost 5 per cent of the world’s natural gas (6.01 tril- lion cu metres), the UAE’s extraordinary hy- drocarbon wealth gives it the highest GDP per capita in the world. Currently, the UAE produces about 2.5m barrels per day (bpd) of crude – just above its OPEC quota of 2.4m bpd. The UAE’s consumption of oil is around 375,000 barrels a day, with 1/3 of that being imported. Currently there are six operational refineries in the UAE with exist- ing refining capacity in the region estimated at around 800,000 tonnes. Development of downstream industries such as refineries and petrochemical plants remain a central part of UAE’s efforts to move away from crude oil exports. The major player remains Emirates Petroleum Products Company (EPPCO), which is responsible for over 50% of the country’s naphtha, marine diesel oil, diesel, kerosene, jet fuel and LPG exports. The price of diesel in the UAE varies from one emirate to the next. In Dubai, diesel Worldwide highest GDP per capita Cheaper refuelling in Abu Dhabi Build it and they will come! The sheiks of the United Arab Emirates are investing their revenues from oil and gas production into grandiose construction and infrastructure projects and are thus attracting further investors. Huge demand for construction vehicles: 20% of all large-scale cranes are in use in Dubai.