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Timeline of important energy market events in each month of 2008.

This report includes estimates of OPEC net oil export revenues, based on projections from the latest EIA Short Term Energy Outlook.

The Caribbean Sea region plays an important role as a petroleum processing and transshipment area, with several major refineries and independent storage facilities. Furthermore, Trinidad and Tobago is becoming an increasingly significant supplier of liquefied natural gas (LNG) to regional markets and to the United States.

A major coal producer and exporter, South Africa also has a highly developed synthetic fuel industry and small reserves of oil.

Brazil is the largest country in South America and has experienced rapidly expanding oil, natural gas, and electricity markets in recent years. The country is in the process of recovering from an energy crisis in 2001.

Japan is the third largest oil consumer in the world behind the United States and China, and the second largest net importer of oil.

Located across the Taiwan Strait from mainland China (80 miles at the closest point), Taiwan is a leading economic and trading center, with one of the busiest ports in the world (Kaohsiung). As Taiwan lacks sufficient domestic energy sources, it is almost totally dependent on energy imports.

Saudi Arabia is the largest oil producer of the Organization of the Petroleum Exporting Countries (OPEC). With approximately one-fifth of the world's proven oil reserves and some of the lowest production costs, Saudi Arabia is expected to remain the world's largest net oil exporter in the near and long-term.

The Philippines is a significant world energy consumer despite decreasing oil consumption. The country remains a potential market for foreign energy firms.

Egypt is a significant oil producer and a rapidly growing natural gas producer. The Suez Canal and Sumed Pipeline are strategic routes for Persian Gulf oil shipments, making Egypt an important transit corridor.

Timeline of important energy market events since 1970.

Energy will play a major role in Côte d'Ivoire in the coming years resulting from growing oil and natural gas reserves combined with excess electricity and refinery capacity.

The Camisea natural gas project will likely turn Peru into an important exporter of liquefied natural gas in the near future.

This fact sheet describes the various parts of Sakhalin Island in Russia that are under development for oil and natural gas.

Russia is important to world energy markets because it holds the world's largest natural gas reserves, the second largest coal reserves, and the eighth largest oil reserves. Russia is also the world's largest exporter of natural gas, the second largest oil exporter, and the third largest energy consumer.

Canada is a net exporter of oil, natural gas, coal, uranium, and hydropower. It is one of the most important sources of U.S. energy imports.

Timeline of important energy market events in each month of 1996-2007.

Ecuador is one of Latin America's largest crude oil producers. The country's oil exports have increased significantly in the past few years following the construction of a second crude oil pipeline.

Syria is the only significant oil producer in the Eastern Mediterranean region, although production has been in decline since the mid-1990s. Syria produces and consumes only modest quantities of energy, it occupies a strategic location in terms of regional security and prospective energy transit routes.

Bahrain's oil sector accounts for about two-thirds of total government revenues.

Angola is Africa's third largest oil producer, and its production capacity is expected exceed 2 million barrels per day in 2008. Major offshore oil finds have also made Angola a key focus of hydrocarbon exploration in sub-Saharan Africa.

The South China Sea region contains oil and gas resources strategically located near large energy-consuming countries.

Areas of the East China Sea are abundant in oil and natural gas deposits, which has resulted in tension between China and Japan as both seek to claim the resources for themselves.

This fact sheet discusses the energy sectors of Turkmenistan and Uzbekistan in greater detail. For more information on Kazakhstan, please see the Kazakhstan Country Analysis Brief.

Argentina is a significant Latin American energy producer and consumer. It is a net energy exporter, primarily to neighboring Brazil and Chile.

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