ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Top 5 Crude Oil Countries

Updated on January 26, 2012

Crude Oil Inventory

As a follow on from my valuable natural resources hubs such as top diamond mining countries, Crude Oil countries was obviously going to be featured sooner or later. There has been much talk about the crude oil inventory depleting,wars being fought to obtain it and offshore drilling damaging the environment.

I thought it would be interesting to share what are the Top 5 countries where it is in most abundance, we all know that Saudi Arabia and Iraq have big supplies but there are a few countries which you might not have expected top be high up on the list.

Before I start talking statistics about Crude Oil, I want to give a brief description which explains the transformation this natural substance goes through before it becomes fuel for our cars, lorries, trains and planes.

Crude oil was formed over millions of years in areas of rich planet life and living creatures that died and got buried by many layers of mud and clay, this material is rich in Carbon and Hydrogen which are key elements which make up Oil.

The trouble with extracting Petroleum and Gasoline from crude oil is that because it is so rich in Hydrocarbons you need to get only the structure which is best suited for your energy needs. The process is carried out in an oil refinery and involves heating the natural form to reach boiling points where the undesirable elements become vaporized.

1. Saudi Arabia

Saudi Arabia currently holds the worlds largest known proven oil resource, many factors are taken into account when estimating the amount including how much can actually be recovered with the available drilling equipment.

According to OPEC, statistics showed that Saudi Arabia estimates 261.8 billion barrels between 2003-2004.

2. Canada

Canada comes in second place although its oil resources are a different kind of quality to that of the Saudi's, they come in the form of 'Tar Sands' which require the latest technology to provide adequate filtering.

In 2003-2004 Canada had estimates 180 billions of barrels worth of crude oil and expects to produce a lot more in the near future.

3. Iraq

The crude oil resource in Iraq has recently been estimated that there could be as much as 350 billion barrels but it has been difficult to confirm or produce much of this due to the countries war-torn condition.

The official record for the Iraq oil reserves as of 2003-2004 states that there is approximately 112 billion barrels to recover.

4. U.A.E

The United Arab Emirates is a country build almost entirely on desert land, I actually stopped there whilst switching planes traveling to Bangkok and the heat is immense. The residents who obviously founded cities in Abu Dhabi based on the oil reserves of 92 billion barrels and Dubai which has 4 billion barrels.

5. Kuwait

Kuwait is lucky in the fact that it is home to one of the world's richest oil fields known as the Burgan field and the country is on the coast of the Persian Gulf and shares 5 billion barrels worth of oil reserves in the Saudi-Kuwaiti neutral zone.

As of 2003-2004 it was estimated that Kuwait holds 96.5 billion barrels worth of oil but since many of its oil fields have been exploited since 1938 there are concerns as to how long production can be maintained at current levels.

Comments

Submit a Comment

No comments yet.

working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)