• Kuwait expands oil, gas strategy with overseas ventures, new projects

    Kuwait expands oil, gas strategy with overseas ventures, new projects uwait is actively seeking international collaboration to accelerate the development of its recently announced offshore oil and gas discoveries, as part of a sweeping strategy to modernise its energy sector and secure its position...

  • Libya: Oil production resumes at Sinawen field after more than three years

    Libya: Oil production resumes at Sinawen field after more than three years   Arabian Gulf Oil Company (AGOCO) announced the resumption of crude oil production at the Sinawen oil field, located in the Nalut region of western Libya, after a hiatus of over three years and seven months. According...

  • Saudi Aramco achieves significant progress in its gas production plan

    Saudi Aramco achieves significant progress in its gas production plan Saudi Aramco has announced the achievement of significant progress in its plan to expand gas production, with the start of production at the Jafurah field, the largest unconventional gas field in the Middle East, and the...

  • QatarEnergy wins Libya offshore exploration license

    QatarEnergy wins Libya offshore exploration license QatarEnergy won an offshore exploration license in the State of Libya following the conclusion of the “Libya Bid Round”, marking QatarEnergy’s first entry into the country’s upstream sector. The results of the competitive bid process, the...

  • Mubadala Energy completes the acquisition from Eni of a 15% interest in Egypt’s Nargis Concession

    Mubadala Energy, the Abu Dhabi headquartered international energy company, announces that it has completed the acquisition from Eni of a 15 percent participating interest in the Nargis Offshore Area (“Nargis”) concession, an offshore exploration block in Egypt. In the concession, Eni now holds...

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Oil & Gas Prices of Today

Crudes $/B
Brent 72.87
WTI 67.02
OPEC Basket 69.29
Natural Gas $/MMBTU
Natural Gas (Nymex) 2.859

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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