Refineries in the Arab World: Iraq. Qatar. Comoros. Kuwait. Lebanon. Libya.
The term “Arab World” is often used to refer to countries in the Middle East and North Africa (MENA) region as well as member states of the League of Arab States. With a population of 373 million (5% of the world’s population), a combined GDP of $870 billion (3% of the world GDP), and a per capita income of about $2,900, the Arab countries are classified as low-middle income countries, as defined by the World Bank. Despite the historical and cultural ties that exist among Arab countries, there are significant differences between Arab sub-regions (the Gulf and the Arabian Peninsula, the Mashreq and the Maghreb) in terms of population size, resource endowment, levels of economic and social development, production patterns, and per capita income, among others. These differences not only affect the growth patterns of Arab economies but also the process of economic integration, political unity, and cohesion in the Arab world.
The Arab world has witnessed major social, economic, and political transformations over the past three decades. The oil sector and the political economy of oil have played, and continue to play, a key role in these transformations at different historical stages.
Over the past three decades, the Arab world has accounted for a higher share of the world’s oil reserves, production, and exports than any other group of countries, which explains the relative dominance of the oil sector in the Arab oil economies. producing countries and, therefore, the entire region.
Of the 19 member states of the Arab League, 14 are oil and gas producers. The six countries of the Gulf Cooperation Council (GCC), together with Iraq, Algeria, and Libya, account for 98% of total Arab oil reserves, 95% of gas reserves, and 90% of total Arab oil and gas production.