• Egypt, ADNOC Drilling discuss expanding oil, gas partnership

    Egypt is seeking to expand oil and gas drilling with ADNOC Drilling as part of a broader push to raise domestic production and attract investment into exploration and field development Egyptian Petroleum and Mineral Resources Minister Karim Badawi met ADNOC Drilling CEO Abdulla Ateya Al Messabi to...

  • NOC signs production-sharing agreement with Chevron

    The National Oil Corporation (NOC) on Monday signed a production-sharing agreement with US oil company Chevron as part of the implementation of the results of the 2025 bidding round, NOC Chairman Masoud Suleiman announced Suleiman said the agreement marks an important step toward exploring and...

  • IMF’s Georgieva says global economy weathering energy shock, sees fiscal concerns

    The global economy has weathered the Iran war energy shock better than feared, International Monetary Fund Managing Director Kristalina Georgieva said ‌on Tuesday, but she raised concerns about deteriorating fiscal conditions in some countries shown by rising bond yields and a stalled...

  • Iraq aims to boost oil output to 8-10 million bpd in six years

    Iraq has sent a delegation to Saudi Arabia seeking a higher output quota from OPEC as the country plans to raise its ​oil production to between 8 million and 10 million barrels per day in ‌the next six years, its prime minister said on Friday. Prime Minister Ali al-Zaidi, speaking at the...

  • ADNOC and KPC lease supertankers for oil shipping to Asia

    According to shipping and trade data, Abu Dhabi National Oil Co (ADNOC), and Kuwait Petroleum Corp (KPC), have chartered four supertankers for a week-long?loading oil? at Fujairah (United Arab Emirates) bound for Asia. ADNOC has chartered three very large crude carriers (VLCC) to load oil in the...

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Oil & Gas Prices of Today

Crudes $/B
Brent 90.35
WTI 85.70
OPEC Basket 89.59
Natural Gas $/MMBTU
Natural Gas (Nymex) 2.929

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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