UAE's oil reserves to last 92 years: report
The UAE's oil reserves of 97.8 billion barrels, which make 7.9 per cent of the world's total stocks, would last 92 years at current production levels, according to a report.
By PTI |
DUBAI: The UAE's oil reserves of 97.8 billion barrels, which make 7.9 per cent of the world's total stocks, would last 92 years at current production levels, according to a report.
The UAE's crude oil output on an average rose 1.53 per cent to 2.66 million barrels per day (bdp) for the quarter ended June as compared to the January-March quarter, latest data by the International Energy Agency (IEA) shows.
The Middle East's oil reserves stood at 755 billion barrels, or 61 per cent of the world's total, while the global oil reserves amounted to 1.24 trillion barrels, said the data.
The UAE's oil consumption rose 7.7 per cent to 450,000 barrels per day in 2007, registering the highest growth rates in the Middle East.
The UAE's proven oil reserves of 97.8 billion barrels make 7.9 per cent of the world's total reserves, said the 2008 BP Statistical Review of World Energy.
The UAE's crude oil output on an average rose 1.53 per cent to 2.66 million barrels per day (bdp) for the quarter ended June as compared to the January-March quarter, latest data by the International Energy Agency (IEA) shows.
The Middle East's oil reserves stood at 755 billion barrels, or 61 per cent of the world's total, while the global oil reserves amounted to 1.24 trillion barrels, said the data.
The UAE's oil consumption rose 7.7 per cent to 450,000 barrels per day in 2007, registering the highest growth rates in the Middle East.
The UAE's proven oil reserves of 97.8 billion barrels make 7.9 per cent of the world's total reserves, said the 2008 BP Statistical Review of World Energy.
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