• ASRY Awarded 2024 RoSPA Gold Medal in Health and Safety

    The Arab Shipbuilding and Repair Yard Company (ASRY) has recently celebrated receiving a Gold Health and Safety Award from the Royal Society for the Prevention of Accidents (RoSPA). This came in recognition of ASRY’s unwavering commitment to implementing the highest standards of occupational...

  • BP ponders shifting focus away from renewables, say sources

    BP’s CEO Murray Auchincloss has reportedly initiated a hiring freeze and suspended offshore wind projects, according to sources at the company, as he places focus on oil and gas to boost revenues. He is looking to halt large, fixed capital investments in offshore wind as they are not expected to...

  • QatarEnergy enters 10-year naphtha supply agreement with Japan’s ENEOS Corporation

    QatarEnergy enters 10-year naphtha supply agreement with Japan’s ENEOS Corporation QatarEnergy has entered into a long-term agreement to supply ENEOS Corporation, a prominent refining and petrochemical company based in Japan, with up to 9 million tons of Naphtha over 10 years...

  • The International Energy Agency expects oil demand growth to slow in 2024

    The International Energy Agency (based in Paris) estimates that global oil production will increase during 2024 by about 770 thousand barrels per day, primarily due to an increase in supplies from countries outside the OPEC+ group. On the demand side, the IEA reduced its forecast for oil demand...

  • The International Monetary Fund re-selects Kristalina Georgieva as its director

    The Executive Board of the International Monetary Fund has selected Ms. Kristalina Georgieva to fill the position of Director General, for a second five-year term beginning on October 1, 2024. The Board made this decision by consensus. The Council praised Ms. Georgieva’s strong and energetic...

Upcoming Events

  • Gastech 2024

    17-20 September 2024 ,George R Brown Convention Center ,Houston

  • Mediterranean Offshore Confere...

    20-22 October 2024, Bibliotheca Alexandrina Conference Center, Alexandria, EGYPT

  • ADIPEC 2024

    4-7 November 2024, Abu Dhabi, UAE

  • Egypt Energy Show (EGYPES) 202...

    17 - 19 FEBRUARY 2025 EGYPT INTERNATIONAL EXHIBITION CENTER

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    24-26 February 2025,Astana, Kazakhstan

Training

  • Free Online Webinar about LNG in Latin America

    More than 30 projects are under...

  • Shell Provides Online Artificial Intelligence Trai...

    The Dutch company Shell is expanding an...

  • Oil and Gas Processing Course

    As part of its efforts in oil and gas...

  • IEG: SUSTAINABLE WAS...

    The Global Water Expo section of the Italian Exhibition Group exhibition is expanding and brings...

  • Egypt succeeds in co...

    Egypt could obtain the sixth and final part of its $ 12 billion three-year loan program, which...

Articles


Oil & Gas Prices of Today

Crudes $/B
Brent 81.48
WTI 76.87
OPEC Basket 83.27
Natural Gas $/MMBTU
Natural Gas (Nymex) 2.657

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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