• Egypt and Cyprus sign framework agreement for cooperation on gas

    Egypt and Cyprus signed a framework agreement for cooperation on gas ​at the Egypt 2026 Energy Show on Monday. A ‌spokesperson for the Cypriot presidency said that the non-binding agreement will be a base upon which the two countries can ​negotiate more agreements for the exploitation of...

  • Italy hopes to receive more gas from Algeria, Meloni says

    Italy hopes to receive more gas from Algeria after agreeing to strengthen energy ‌cooperation with the north African nation, Italian Prime ‌Minister Giorgia Meloni said on a visit to Algiers. Meloni met President Abdelmadjid ​Tebboune as Rome faces prolonged disruptions in liquefied natural...

  • Kuwait oil CEO says Iran is ‘holding the world’s economy hostage’

    Emergency measures to alleviate the disruption to energy supply caused by the U.S.-Israeli war on ‌Iran are “not even a drop in the proverbial barrel” compared to normal oil and gas export flows from the Middle East Gulf, the CEO of Kuwait Petroleum Corporation said on Tuesday. Kuwait...

  • QatarEnergy says it needs to declare force majeure on some LNG contracts

    (This March 24 story has been corrected to clarify in the headline and story that Qatar has determined it needs to declare force majeure on some LNG contracts, not that it has declared force majeure) QatarEnergy said on Tuesday ​it had ​determined that it needed ‌to ⁠declare force majeure...

  • Saudi boosts Yanbu crude oil exports as it works around Hormuz halt, data shows

    Crude oil exports from Saudi Arabia’s Red Sea Yanbu port rose to nearly 4 million barrels per day last week, a sharp increase from export levels before the Iran war broke out, shipping data shows. The jump shows that Saudi Aramco , the world’s biggest ​oil exporter, is making...

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Oil & Gas Prices of Today

Crudes $/B
Brent 112.58
WTI 103.30
OPEC Basket 118.11
Natural Gas $/MMBTU
Natural Gas (Nymex) 2.855

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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