10 countries with highest Oil Reserves all over the World

Oil, the most important natural resource found in the Earth’s crust is one of  the costliest natural resources on our planet. It includes Natural gas, Petroleum, diesel and many more petroleum products. Not all the countries are lucky enough to have these resources in a sufficient amount. It’s a very scarce natural resource. Almost everybody and  needs the oil for their daily needs. Such is the Importance of Oil in the modern world. It’s abundantly found in some rare places given below.


1.Saudi Arabia



saudi-arabia

The Kingdom of Saudi Arabia or KSA Arabic: المملكة العربية السعودية‎, al-Mamlaka al-’Arabiyya as-Su’ūdiyya) is the largest country of the Arabian Peninsula. It is bordered by Jordan on the northwest, Iraq on the north and northeast, Kuwait, Qatar, Bahrain, and the United Arab Emirates on the east, Oman on the southeast, and Yemen on the south. The Persian Gulf lies to the northeast and the Red Sea to its west. It has an estimated population of 27.6 million, and its size is approximately 2,150,000 square km (830,000 square miles).

The Kingdom is sometimes called “The Land of The Two Holy Mosques” in reference to Mecca and Medina, the two holiest places in Islam. In English, it is most commonly referred to as Saudi Arabia. The Kingdom was founded by Abdul-Aziz bin Saud, whose efforts began in 1902 when he captured the Al-Saud’s ancestral home of Riyadh, and culminated in 1932 with the proclamation, and recognition of the Kingdom of Saudi Arabia.

Saudi Arabia is the world’s leading petroleum exporter and petroleum exports fuel the Saudi economy. Oil accounts for more than 90 percent of exports and nearly 75 percent of government revenues, facilitating the creation of a welfare state which the government has found difficult to fund during periods of low oil prices. Human rights groups such as Amnesty International and Human Rights Watch have repeatedly expressed concern about the state of human rights in Saudi Arabia, although these concerns have been dismissed by the Saudi government.

Oil reserve: 261.8 Billions of Barrels

2. Canada


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 Canada is the home to the eighth largest economy in the world(measured in US dollars at market exchange rates), is one of the world’s wealthiest nations, and a member of the Organization for Economic Co-operation and Development (OECD) and Group of Eight(G8). As with other developed nations, the Canadian economy is dominated by the service industry, which employs about three quarters of Canadians. Canada is unusual among developed countries in the importance of the primary sector, with the logging and oil industries being two of Canada’s most important. Canada also has a sizable manufacturing sector, centered in Central Canada, with the automobile industry especially important.

International trade makes up a large part of the Canadian economy, particularly of its natural resources. The United States is by far its largest trading partner, accounting for about 76% of exports and 65% of imports as of 2007. Canada’s combined exports and imports ranked 8th among all nations in 2006 .

Canada is a mixed market or social market economy, which the Heritage Foundation ranks as 7th in the world on their “index of economic freedom”, higher than most western European countries and slightly lower than the U.S. (in 5th place). Canada ranks among the most developed countries on the Human development index, with a GDP per capita lower than, and a median household income roughly equal to, that of the United States.

Oil reserve: 180.0 Billions of Barrels

3.Iraq

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 Iraq, officially the Republic of Iraq (Arabic: جمهورية العراق Jumhūrīyat Al-Irāq), is a country in Western Asia spanning most of the northwestern end of the Zagros mountain range, the eastern part of the Syrian Desert and the northern part of the Arabian Desert. It shares borders with Kuwait and Saudi Arabia to the south, Jordan to the west, Syria to the northwest, Turkey to the north, and Iran to the east. It has a very narrow section of coastline at Umm Qasr on the Persian Gulf. There are two major flowing rivers: the Tigris and the Euphrates. These provide Iraq with agriculturally capable land and contrast with the desert landscape that covers most of Western Asia.

The capital city, Baghdad, is in the center-east. Iraq’s rich history dates back to ancient Mesopotamia. The region between the Tigris and Euphrates rivers is identified as the cradle of civilization and the birthplace of writing. During its long history, Iraq has been the center of the Akkadian, Assyrian, Babylonian and Abbasid empires, and part of the Achaemenid, Macedonian, Parthian, Sassanid, Umayyad, Mongol, Ottoman, and British empires.

Since an invasion in 2003, a multinational coalition of forces, mainly American and British, has occupied Iraq. The invasion has had wide-reaching consequences: increased civil violence, establishment of a parliamentary democracy, the removal and execution of former authoritarian President Saddam Hussain, official recognition and widespread political participation of Iraq’s Kurdish minority and Shi’ite Arab majority, significant economic growth, building of new infrastructure, and use of the country’s huge reserves of oil. According to the 2007 Failed States Index, produced by the Carnegie Endowment for International Peace’s Foreign Policy magazine and the Fund for Peace, Iraq has recently emerged as the world’s second most unstable country,after Sudan, and the United States has recently referred to it in court proceedings as “an active theater of combat.” Iraq is developing a parliamentary democracy composed of 18 governorates (known as muhafadhat).

Oil reserve: 112.5 Billions of Barrels

4.U.A.E (Dubai)

United Arab Emirates The United Arab Emirates (UAE) (Arabic: دولة الإمارات العربية المتحدة, transliteration: Dawlat Al-Imārāt al-‘Arabīyah al-Muttahjdah) is a Middle Eastern federation of seven states situated in the southeast of the Arabian Peninsula in Southwest Asia on the Persian Gulf, bordering Oman and Saudi Arabia. The seven states, termed emirates are

 

  1. Abu Dhabi
  2. Ajman Dubai

  3. Fujairah

  4. Ras al-Khaimah

  5. Sharjah

  6. Umm al-Quwain.

The UAE, rich in oil and natural gas, has become highly prosperous after gaining foreign direct investment funding in the 1970s. The country has a relatively high Human Development Index for the Asian continent and ranked 39th globally.

Before 1971, the UAE were known as the Trucial States or Trucial Oman, in reference to a nineteenth-century truce between Britain and several Arab Sheikhs. The name Pirate Coast was also used in reference to the area’s emirates in the 18th to early 20th century.

Before 1971, the UAE were known as the Trucial States or Trucial Oman, in reference to a nineteenth-century truce between Britain and several Arab Sheikhs. The name Pirate Coast was also used in reference to the area’s emirates in the 18th to early 20th century.

Oil reserve: 97.8 Billions of Barrels

5.Kuwait

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The State of Kuwait (Arabic: دولة الكويت‎) is a sovereign emirate on the coast of the Persian Gulf, enclosed by Saudi Arabia to the south and Iraq to the north and west. The name is a diminutive of an Arabic word meaning “fortress built near water.” It has a population of 3.1 million and an area of 17,818 km². Kuwait is a constitutional monarchy with a parliamentary system of government and Kuwait City serves as its political and economic capital.

Kuwait has the world’s fifth largest proven oil reserves and is the fourth richest country in the world per capita. Kuwait’s oil fields were discovered and exploited in the 1930s and after it gained independence from the United Kingdom in 1961, the nation’s oil industry saw unprecedented growth. Petroleum and petroleum products now account for nearly 95% of export revenues, and 80% of overnment income.

In 1990, Kuwait was invaded and annexed by neighboring Iraq. The seven month-long Iraqi occupation came to an end after a direct military intervention by United States-led forces. Nearly 700 Kuwaiti oil wells were set ablaze by the retreating Iraqi army resulting in a major environmental and economic catastrophe. Kuwait’s infrastructure was badly damaged during the war and had to be rebuilt.

Oil reserve: 96.5 Billions of Barrels

6.Iran

800px-Flag_of_Iran.svg

Iran (Persian: ايران )officially the Islamic Republic of Iran (Persian: جمهوری اسلامی ايران, pronounced [dʒomhuːɾije esl'ːmije iː''n]), formerly known internationally as Persia until 1935, is a country in Central Eurasia, located on the northeastern shore of the Persian Gulf. The name Iran is a cognate of Aryan, and means “Land of the Aryans”.

The 18th largest country in the world in terms of area at 1,648,195 km², Iran has a population of over seventy million. It is a country of special geostrategic significance due to its central location in Eurasia. Iran is bordered on the north by Armenia, Azerbaijan and Turkmenistan. Being a littoral state of the Caspian sea, an internal sea and condominium, Kazakhstan and Russia are also Iran’s direct neighbours to the north. On the east by Afghanistan and Pakistan; on the south by the Persian Gulf and the Gulf of Oman; and on the west by Turkey and Iraq. Tehran is the capital, largest city and the political, cultural, commercial, and industrial center of the nation. Iran is a regional power, and occupies an important position in international energy security and world economy as a result of its large reserves of petroleum and natural gas.

Iran is home to one of the world’s oldest continuous major civilizations, with historical and urban settlements dating back to 4000 BC. The Medes unified Iran into a kingdom in 625 BC. They were succeeded by three Iranian dynasties, the Achaemenids, Parthians and Sassanids, which governed Iran for more than 1000 years. After centuries of foreign occupation and short-lived native dynasties, Iran was once again reunified as an independent state in 1551 by the Safavid dynasty—who promoted Shi’a Islam as the official religion of their empire, marking one of the most important turning points in the history of Islam. Iran had been a monarchy ruled by a Shah, or emperor, almost without interruption from 1501 until the 1979 Iranian revolution, when Iran officially became an Islamic Republic on 1 April 1979.

Iran is a founding member of the UN, NAM, OIC, and OPEC. The political system of Iran, based on the 1979 Constitution, comprises several intricately connected governing bodies. The highest state authority is the Supreme Leader. Shi’a Islam is the official religion, and Persian is the official language.

oil reserve: 89.7 Billions of Barrels

7.Venezuela

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Venezuela ( Spanish pronunciation: [bene'swela]), officially the Bolivarian Republic of Venezuela (Spanish: República Bolivariana de Venezuela), is a country on the northern coast of South America.

The country comprises a continental mainland and numerous islands located off the Venezuelan coastline in the Caribbean Sea. The Bolivarian Republic of Venezuela possesses borders with Guyana to the east, Brazil to the south, and Colombia to the west. Trinidad and Tobago, Grenada, St. Lucia, Barbados, Curaçao, Bonaire, Aruba, Saint Vincent and the Grenadines and the Leeward Antilles lie just north, off the Venezuelan coast. Falling within the tropics, Venezuela sits close to the equator, in the Northern Hemisphere.

A former Spanish colony, which has been an independent republic since 1821, Venezuela holds territorial disputes with Guyana, largely concerning the Essequibo area, and with Colombia concerning the Gulf of Venezuela. In 1895, after the dispute over the Guyana border flared up, it was submitted to a neutral commission, which in 1899 decided it mostly in Guyana’s favour. Today, the Bolivarian Republic of Venezuela is known widely for its petroleum industry, the environmental diversity of its territory, and its natural features. Venezuela is considered to be among the world’s 17 most biodiverse countries.

Venezuela is among the most urbanized countries in Latin America; the vast majority of Venezuelans live in the cities of the north, especially in the capital Caracas which is also the largest city. Other major cities include Maracaibo, Valencia, Maracay, Barquisimeto, Ciudad Guayana and the popular tourist city of Mérida. Venezuela is also home to a diversity of wildlife in a variety of protected habitats.

Oil reserve: 77.8 Billions of Barrels

 

8.Russia

Russia

At 17,075,400 square kilometers, Russia is by far the largest country in the world, covering more than an eighth of the Earth’s land area; with 142 million people, it is the ninth largest by population. It extends across the whole of northern Asia and 40% of Europe, spanning 11 time zones and incorporating a great range of environments and landforms. Russia has the world’s greatest reserves of mineral and energy resources, and is considered an energy superpower. It has the world’s largest forest reserves and its lakes contain approximately one-quarter of the world’s unfrozen fresh water.

The nation’s history began with that of the East Slavs. The Slavs emerged as a recognizable group in Europe between the 3rd and 8th centuries AD. Founded and ruled by Vikings and their descendants, the first East Slavic state, Kievan Rus’, arose in the 9th century and adopted Christianity from the Byzantine Empire in 988, beginning the synthesis of Byzantine and Slavic cultures that defined Russian culture for the next millennium. Kievan Rus’ ultimately disintegrated and the lands were divided into many small feudal states. The most powerful successor state to Kievan Rus’ was Moscow, which served as the main force in the Russian reunification process and independence struggle against the Golden Horde. Moscow gradually reunified the surrounding Russian principalities and came to dominate the cultural and political legacy of Kievan Rus’. By the 18th century, the nation had greatly expanded through conquest, annexation and exploration to become the huge Russian Empire, stretching from Poland eastward to the Pacific Ocean.

Russia established worldwide power and influence from the times of the Russian Empire to being the largest and leading constituent of the Soviet Union, the world’s first and largest constitutionally socialist state and a recognized superpower. The nation can boast a long tradition of excellence in every aspect of the arts and sciences. The Russian Federation was founded following the dissolution of the Soviet Union in 1991, but is recognized as the continuing legal personality of the Soviet Union. Russia is a permanent member of the United Nations Security Council and a leading member of the Commonwealth of Independent States and the G8. It is one of the five recognized nuclear weapons states and possesses the world’s largest stockpile of weapons of mass destruction.

Oil reserve: 60.0 Billions of Barrels

9.Libya

800px-Flag_of_Libya.svg

Libya (Arabic: ليبيا ‎ Lībiyā ),officially the Great Socialist People’s Libyan Arab Jamahiriya ( الجماهيرية العربية الليبية الشعبية الإشتراكية العظمى ‎ Al-Jamāhīriyyah al-ʿArabiyyah al-Lībiyyah aš-Ša’biyyah al-Ištirākiyyah al-’U'mā) is a country in North Africa. Bordering the Mediterranean Sea to the north, Libya lies between Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria and Tunisia to the west. With an area of almost 1.8 million square kilometres (700,000 sq mi), 90% of which is desert, Libya is the fourth largest country in Africa by area, and the 17th largest in the world. The capital, Tripoli, is home to 1.7 million of Libya’s 5.7 million people. The three traditional parts of the country are Tripolitania, the Fezzan and Cyrenaica.

The name “Libya” is an indigenous (i.e. Berber) one, which is attested in ancient Egyptian texts as , R’bw (= Libu), which refers to one of the tribes of Berber peoples living west of the Nile. In Greek the tribesmen were called Libyes and their country became “Libya”, although in ancient Greece the term had a broader meaning, encompassing all of North Africa west of Egypt. Later on, at the time of Ibn Khaldun, the same big tribe was known as Lawata.

Libya has the third highest GDP(PPP) per capita of Africa, behind Seychelles and South Africa. This is largely due to its large petroleum reserves and low population.

The Flag of Libya is the only national flag in the world with just one color - green - with no design, insignia, or other details.

Oil reserve: 29.5 Billions of Barrels

10.Nigeria

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Nigeria, officially named the Federal Republic of Nigeria, is a federal constitutional republic comprising thirty-six states and one Federal Capital Territory. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in the north. Its coast lies on the Gulf of Guinea, part of the Atlantic Ocean, in the south. The capital city is Abuja.

The people of Nigeria have an extensive history, and archaeological evidence shows that human habitation of the area dates back to at least 9000 BC. The Benue-Cross River area is thought to be the original homeland of the Bantu migrants who spread across most of central and southern Africa in waves between the 1st millennium BC and the 2nd millennium AD.

Nigeria is the most populous country in Africa and the eighth most populous country in the world with a population of over 140 million. The country is listed among the “Next Eleven” economies, and is one of the fastest growing in the world with the International Monetary Fund projecting growth of 9% in 2008 and 8.3% in 2009.

oil reserve: 24.0 Billions of Barrels

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4 Responses to “ 10 countries with highest Oil Reserves all over the World ”

  1. [...] 10 countries with highest Oil Reserves all over the WorldTrinidad and Tobago, Grenada, St. Lucia, Barbados, Curaçao, Bonaire, Aruba, Saint Vincent and the Grenadines and the Leeward Antilles lie just north, off the Venezuelan coast. Falling within the tropics, Venezuela sits close to the … [...]

  2. [...] 10 countries with highest Oil Reserves all over the WorldTrinidad and Tobago, Grenada, St. Lucia, Barbados, Curaçao, Bonaire, Aruba, Saint Vincent and the Grenadines and the Leeward Antilles lie just north, off the Venezuelan coast. Falling within the tropics, Venezuela sits close to the … [...]

  3. what is the reserve of India?

  4. I saw in some News that India has some hidden Oil reserves, but very less compared OPEC countries.
    Now Reliance is extracting Oil from Gadavari-Krishna basin in A.P.

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