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Wednesday, 10 October 2012
Top 10 Oil Producing Countries in the World
In the modern economy the crude oil or the petrochemicals is the major requirement. This oil is used as lubricants and for generating the heat. Due to recent rise in petroleum prices our attention has been drawn towards the need of supply of oil in this economy. So let us see the top 10 countries that produce oil.
The West African nation’s biggest industry is the petroleum industry of Nigeria. This industry is the main GDP generator. The industry was discovered by the Britishers during the late 1950’s. The total crude production in Nigeria per day is around 2.51 million barrels. It shares 2.95 percentages in the total production of petrol in the world. It exports around 1.02 million barrels per day to the United States. The reserves in Nigeria accounts to be around 37.2 billion barrels. The Nigerian petroleum industry has been exploited due to political and economical reasons. Until 1990 no international attention was given to the exploitation of this petroleum industry. There has been criticism against the Nigerian government and many oil corporations so they have taken very small measures to reduce the degradation of environment caused due to petroleum extraction.
Brazil has Tupi fields which are the major source of production of oil. The country does not import any oil from outside rather it exports oil to many countries. It has a total of 2,750,00 barrels of oil production each day and since it is not involved in import function so it exports 211 thousand barrels of oil to United states. It has a total of around 1,280,0000 barrels of proven resources
08. United Arab Emirates
United Arab Emirates is the country which has a total production of around 2,800,000 barrels of crude oil each day. 3.3 percent is the contribution of United Arab Emirates is there in the world production of oil. It has a total of 10 thousand barrels of export to United States.
The country is also a great producer for oil. In Western hemisphere the country is a great help when it comes to the production of oil. In the list of exporting oil resource the country occupied 10th position while in the list of oil production it occupies sixth position. This country, Mexico is not included in the membership of Organisation of Petroleum Exporting Country or any other Organisation which is related to the production of petroleum. It produces 2.880,000 barrels of crude oil. The all over contribution for the world’s production is 3.39 per cent. It exports 1,220,00 barrels of oil to United States.
Canada is major petroleum producing industry which is very much useful for the economic growth of North America. The country has 1,752,0000 barrels of reserves which are considered as proven. The country is at the sixth position in the production of oil. At an average of around 2,750,000 bbl/d of crude oil is produced each day. The industry of Canada which produces petroleum is also popularly known as Oil Patch. The meaning of the term Oil Patch is related to the operations which are done in the production of petroleum. At an average of around 25,000 oil wells are drilled in the year 2005 in Canada. It produces 3,700,00 barrels of crude oil each day. Also it contributes 4.3 per cent of total production of oil all around the world.
The country, Iran has 10 percent of the total world’s reserves which are proven for petroleum. In producing oil the country is at fourth position. After Saudi Arab, Iran is given preference for producing oil in Organisation of petroleum exporting countries. It produces at an average of 4,200,000 barrels of crude per day. In world’s economy of production it contributes 4.9 percent in the production of oil. It does not have any export relation with United States. The country as 297 gas and oil tanks, 145 hydrocarbon areas. Among gas and oil reservoirs the total number of gas tanks is 92 whereas the total number of oil tanks is 205. The country consumes around 1,600,000 barrels of the oil which is produced by it. After United States this country is said to be the largest importer of Gasoline.
The country, China has the largest population in the world. The reserves and the oil production in the country are also very affected by the population of the country. The large population needs large amount of resources and so the total production is wholly consumed by the country itself. The country has heavy resources of oil. The companies which produce oil in China are Sinopec, China National Offshore Oil Corp, and also China National Petroleum Corp. The crude oil production of the country is 4,260,000 barrels each day. The country has the share of 5 percent in the total production of oil. Also it exports around 8000 barrels of oil to United States.
03. United States
The country, United States is the third oil producing country in the world. It produces around 9,056,000 barrels of oil each day. Currently United States his handling the case of BP oil spill in the Gulf Coast. The country produces 8.85 million barrel of crude oil each day. It also imports crude oil at a total of around 8,630,000 barrels each day. The reserves of the country which are proven are of around 1,920,000 barrels. Also it contributes 10.4 percent of the overall world’s oil production
Russia, this country comes to second position when we talk in terms of oil producing sector. The country is major famous for producing natural gas. Russia is the country which has the largest reserve of natural gas all around the world. It is not just famous for its highest reserves of natural gas but is also known for its coal reserves which is the second largest reserve of the world located in this country. Apart from these crude oil reserves of Russia holds the ninth position all around the world. The country produces around 9.91 million barrels of crude oil each day. It exports at an average 158,000 barrels of oil to United States.
01. Saudi Arabia
The place named Saudi Arab is the place which comes first when the point comes to oil producing. The country has an economy which is oil based. Among all around the distributors of the world, Saudi Arab is the one which contributes 18 percent of oil. And so is counted among the list of largest oil producing country. The country produces different oils like it produces crude oil of around 10.3 million barrels each day. The country has the reserves of around 259.9 billion barrels. The transportation of these oils to United States is also a very big deal. At an average of around 1.08 million barrels of oil is exported to United States by this country, Saudi Arab. The country also holds a good position in Organisation of Petroleum Exporting Countries (OPEC). The discovery of oil in the country was done in year 1930, before this the country was just a nomadic place.