• Egypt Signs Solar Energy Project with UAE, Bahrain, and China

    Egypt signed a land usufruct agreement with investors from the UAE, Bahrain, and China to establish an integrated industrial complex on an area of ​​200,000 square meters in the Sokhna Industrial Zone, with total investments of approximately EGP 11 billion. The project will be implemented in...

  • Libya Cooperates with the United States to Develop the Oil and Clean Energy Sector

    Libya Cooperates with the United States to Develop the Oil and Clean Energy Sector   The Minister of Oil and Gas of the Libyan Government of National Unity, Khalifa Abdul-Sadig, met with Jeremy Brent, Chargé d’Affaires at the US Embassy in Libya. They discussed investment opportunities...

  • Kuwait Consolidates Its Position in the Global Oil Market

    Kuwaiti businessman and writer Ali Abbas Al-Naqi revealed that Kuwait continues to strengthen its pivotal presence in global oil markets through careful production management and full compliance with OPEC+ agreements, while adopting the latest technologies to enhance efficiency and reduce...

  • UAE Signs 15-Year LNG Sale Agreement with India

    ADNOC announced the signing of a 15-year agreement with Indian Oil Corporation Limited (IOC), India’s largest integrated and diversified energy company, to supply one million tons per year of LNG, primarily from the Ruwais project, to various Indian ports.   The agreement contributes to...

  • Iraq Increases Refining Capacity to 1.3 Million Barrels per Day

    According to a statement issued by the Iraqi Prime Minister’s Office, Iraq’s refining capacity has increased to 1.3 million barrels per day, compared to approximately 1.1 million barrels per day in 2024.   Prime Minister Mohammed Shia al-Sudani stated earlier this year that Iraq...

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Oil & Gas Prices of Today

Crudes $/B
Brent 67.53
WTI 65.43
OPEC Basket 69.65
Natural Gas $/MMBTU
Natural Gas (Nymex) 3.051

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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