• France’s Macron says G7 will meet to discuss energy crisis in coming weeks

     President Emmanuel Macron said on Friday a meeting of G7 ​countries would take place in ‌the coming weeks to step up cooperation among members and help secure supplies ​in the face of the current ​energy crisis stemming from the Iran ⁠war. “In the coming weeks, we ​will hold a...

  • QatarEnergy says Hormuz crisis may delay LNG expansion projects

    QatarEnergy expects the first train of its North Field East (NFE) liquefied natural gas expansion project to start production in the first half of 2027, but additional trains will depend on ​the Strait of Hormuz crisis. Disruptions caused by the effective closure of the strait ‌since the US and...

  • EU warns of energy price crisis, asks countries to consider curbing demand, letter shows

    The European Union ​is facing an energy price crisis as fallout from the Iran ‌war roils oil and gas markets, the bloc’s energy chief said on Friday in a letter seen by Reuters that urged countries to consider measures to curb natural ​gas demand. “We are facing a price crisis...

  • Oman’s Minister of Energy inspects production facilities at Oman LNG

    Oman LNG was pleased to welcome the delegation led by H.E. Eng. Salim Al Aufi, Minister of Energy and Minerals, and H.E. Khalid Al Ghamari, Undersecretary of the Ministry of Labour and Engineer Mohammed Al Naabi, CEO of OPAL to our LNG facility in Sur to witness the progress on the...

  • Libya targets 4 billion cubic feet of daily gas production

    Libya plans to raise its gas production to around 4 billion cubic feet per day within three to five years, Oil and Gas Minister Khalifa Abdulsadiq said, according to Reuters. Speaking at a forum in Bangkok on Tuesday, Abdulsadiq said the target would be achieved by utilizing Libya’s existing...

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Oil & Gas Prices of Today

Crudes $/B
Brent 97.98
WTI 90.39
OPEC Basket 111.75
Natural Gas $/MMBTU
Natural Gas (Nymex) 3.025

Primary Energy Resources (%)

2019
(Share)
2020
(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
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