- Saudi Arabia and Kuwait Announce New Oil Discovery in the Divided Zone
- HE Minister Saad bin Sherida Al Kaabi meets with heads of the energy sector in China.
- OPEC Maintains Global Oil Demand Growth Forecast at 1.3 Million Barrels Per Day in 2025
- Al Mazrouei: The UAE has become a global model for energy efficiency
- Kuwait: Kuwaiti-Chinese Cooperation in the Petrochemical Industry
- H.E. Minister Saad Sherida Al-Kaabi meets Egypt’s Minister of Petroleum and Mineral Resources
- QatarEnergy enters 25-year condensate supply greement with Shell
- Iraq plans to reduce its oil exports to comply with production cuts required by OPEC+
- Libya: Oil Production to Exceed 1.38 Million Barrels Per Day in April 2025
- ADNOC to expand LNG Deals in Southeast Asia with inaugurating of Sales and Marketing Office in (Beijing)
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Saudi Arabia and Kuwait Announce New Oil Discovery in the Divided Zone
A few days ago, the governments of the Kingdom of Saudi Arabia and the State of Kuwait announced that the joint Wafra operations had made a new oil discovery in the “North Wafra Wara-Burgan” field, located 5 kilometers north of the Wafra field. Oil flowed from the “Warra”...
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HE Minister Saad bin Sherida Al Kaabi meets with heads of the energy sector in China.
His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, met in Beijing in Beijing on May 21, 2025 with His Excellency Mr. Wang Hongzhi, the Administrator of the National Energy Administration of the People’s Republic of China. Discussions during the meeting dealt with...
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OPEC Maintains Global Oil Demand Growth Forecast at 1.3 Million Barrels Per Day in 2025
The Organization of the Petroleum Exporting Countries (OPEC) maintained its forecast for global oil demand growth at 1.3 million barrels per day in 2025, consistent with previous assessments. In its monthly report OPEC said that this strong growth is expected to continue in 2026, with a similar...
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Al Mazrouei: The UAE has become a global model for energy efficiency
Suhail bin Mohammed Al Mazrouei, UAE Minister of Energy and Infrastructure, emphasized that the vision of the wise leadership has been the cornerstone for achieving a qualitative transformation in the UAE’s energy and utilities sector. In his opening remarks at the World Utilities...
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Kuwait: Kuwaiti-Chinese Cooperation in the Petrochemical Industry
A few days ago, the Petrochemical Industries Company (PIC), a subsidiary of the Kuwait Petroleum Corporation (KPC), signed a memorandum of understanding (MoU) with the Chinese Wanhua Chemical Group, aiming to enhance bilateral cooperation in the petrochemical industry. In a press release...
Saudi Arabia and Kuw...
A few days ago, the governments of the Kingdom of Saudi Arabia and the State of...
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HE Minister Saad bin...
His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy...
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OPEC Maintains Globa...
The Organization of the Petroleum Exporting Countries (OPEC) maintained its...
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Al Mazrouei: The UAE...
Suhail bin Mohammed Al Mazrouei, UAE Minister of Energy and Infrastructure,...
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Kuwait: Kuwaiti-Chin...
A few days ago, the Petrochemical Industries Company (PIC), a subsidiary of the...
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His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy...
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QatarEnergy enters 2...
DOHA, Qatar • 30 April 2025 – QatarEnergy entered into a long-term...
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Iraq plans to reduce...
Estimates indicate that Iraq’s production last month exceeded the...
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IEG: SUSTAINABLE WAS...
The Global Water Expo section of the Italian Exhibition Group exhibition is expanding and brings...
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Egypt succeeds in co...
Egypt could obtain the sixth and final part of its $ 12 billion three-year loan program, which...
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International variables cast a...
The International Energy Agency expected the global demand for oil to increase to about 102 million...
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World Bank: Global debt to exc...
Reports from the World Bank and the International Finance Corporation indicate that the global debt...
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IEG: ECOMONDO AND KEY ENERGY 2...
Over 80 live talk events on the calendars of Ecomondo and Key Energy, being held from 3rd to 6th...
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Rimini (Italy) 20th July 2020 – The potential for windpower in North Africa, the transition...
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The dangers surrounding OPEC I...
During the first half of 2020, the world has suffered from three strong crises (one after the...
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Overview of the LNG Latin Amer...
Natural gas is the purest and cleanest fossil fuel that exists, it generates fewer emissions than...
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Chevron expects to restore pro...
After four and a half years, the Wafra oil field is set to resume production soon. Ed Colina,...
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Basic Concepts of World Petrol...
Mohamed Hassan Salem Oil and Gas Economic Expert Head of “Middle East Center for Energy...
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Oil and Gas Situation in Kuwait Mohamad Hassan Salem Chairman/ Middle East Center for Energy...
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Oil & Gas Prices of Today
| Crudes | $/B |
| Brent | 63.28 |
| WTI | 62.49 |
| OPEC Basket | 63.78 |
| Natural Gas | $/MMBTU |
| Natural Gas (Nymex) | 3.535 |
Primary Energy Resources (%)
|
(Share) |
(Share) |
|
| Oil | 33.0% | 31.2% |
| Gas | 24.2% | 24.7% |
| Coal | 27.0% | 27.2% |
| Nuclear | 4.3% | 4.3% |
| Hydro | 6.4% | 6.9% |
| Renewables | 5.0% | 5.7% |
| Total Resources | 100% | 100% |
Top 10 World Oil Reserves
| Countries | Oil (Billion bbl) | % of World total | R/P ratio (Years of lifetime) |
| Venezuela | 304 | 17.5 | * |
| S. Arabia | 298 | 17.2 | 69 |
| Canada | 168 | 9.7 | 82 |
| Iran | 158 | 9.1 | 121 |
| Iraq | 145 | 8.4 | 83 |
| Russian F. | 108 | 6.2 | 26 |
| Kuwait | 102 | 5.9 | 93 |
| UAE | 98 | 5.7 | 67 |
| USA | 69 | 4.0 | 11 |
| Libya | 48 | 2.8 | 108 |
Notes:
- - Proved reserves as of 1.1.2021 (BP Annual Statistical Review of 2021)
- - * more than 500 years
- - Reserves include gas condensates and NGL’s as well as crude oil
Top 10 World Gas Reserves
| Countries | N. Gas (Trillion CF) | % of World total | R/P ratio (Years of lifetime) |
| Russia fed. | 1321 | 19.88 | 56 |
| Iran | 1134 | 17.07 | 131 |
| Qatar | 871 | 13.11 | 139 |
| Turkmanstan | 480 | 6.71 | 309 |
| USA | 446 | 6.71 | 14 |
| China | 297 | 4.47 | 47 |
| Venezuela | 221 | 3.33 | 238 |
| Saudi Arabia | 213 | 3.20 | 53 |
| UAE | 210 | 3.16 | 95 |
| Nigeria | 193 | 2.91 | 109 |
| Iraq | 125 | 1.87 | - |
| Azribejan | 88 | 1.33 | - |
| Australia | 84 | 1.27 | - |
| Canada | 83 | 1.25 | - |
| Algeria | 81 | 1.21 | - |
| Kazakhistan | 80 | 1.20 | - |
| Egypt | 76 | 1.14 | - |
| kuwait | 60 | 0.09 | - |
| Norway | 51 | 0.08 | - |
| Libya | 51 | 0.08 | - |
Notes:
- - Proved reserves as of 1.1.2021
- - Source:BP Annual Statistical Review of 2021
