RUSSIA - UKRAIN CONFLICT

                        

GLOBAL experts and analysts, including those in the Energy domain, predict the following:

*Oil & Gas prices could increase consumer prices of these and related commodities

*Disruption of Oil & Gas supplies in Europe and elsewhere in the world.

*Inflation increase, up to two digits, year after year, for some countries.

FACTS AND FIGURES OF GLOBAL OIL & GAS PRODUCTION AND RESERVES

LARGEST Oil producers of the World in 2022

The list of the top ten countries next to their respective barrels per day (BPD) rates is as follows:

1. Russia - 10.58 million BPD

2. Saudi Arabia - 10.13 million BPD

3. United States - 9.352 million BPD

4. Iran - 4.469 million BPD

5. Iraq - 4.454 million BPD

6. Canada - 3.977 million BPD

7. China - 3.383 million BPD

8. United Arab Emirates - 3.174 million BPD

9. Kuwait - 2.753 million BPD

10. Brazil - 2.622 million BPD

LARGEST oil reserves of the World

*Venezuela has the largest amount of oil reserves in the world with 300.9 billion barrels. 

*Saudi Arabia has the second-largest amount of oil reserves in the world with 266.5 billion barrels. 

NATURAL GAS production in 2021

The list of the 10 countries with the highest natural gas production is as follows:

1. Russia (47,805 billion cubic meters)

2. Iran (33,721 billion cubic meters)

3. Qatar (24,072 billion cubic meters)

4. United States (15,484 billion cubic meters)

5. Saudi Arabia (9,200 billion cubic meters)

6. Turkmenistan (7,504 billion cubic meters)

7. United Arab Emirates (6,091 billion cubic meters)

8.Venezuela (5,740 billion cubic meters)

9.Nigeria (5,475 billion cubic meters)

10.China (5,440 billion cubic meters)

LARGEST Natural Gas Reserves of the World 

There are always new  announcements of new discoveries of shale gas recoverable reserves around the world, as well as new deepwater drilling discoveries, particularly in Africa, Central Asia and South America. Hence, there is some disagreement on which country has the largest proven gas reserves. 

*In 2020, Russia had proved reserves of 1, 320.59 trillion cubic feet (Tcf) of natural gas

*Iran holds 1,183 trillion cubic feet (Tcf) of proven gas reserves as of 2017

*As of December 31, 2020, U.S. total natural gas proved reserves—estimated as wet gas (which includes hydrocarbon gas liquids [HGLs])—totaled about 473.3 trillion cubic feet (Tcf)

From:

Sospeter Muhongo

*Honorary Fellow, Geological Society of London (est. 1807)

*Honorary Fellow, Geological Society of America (est.1888)

*Honorary Reserach Fellow, Chinese Academy of Geological Sciences (est. 1956)

*Editor-in-Chief Emeritus, Journal of African Earth Sciences, Elsevier

*Former President of the Geological Society of Africa