The politicians and activists of “green movement” like to speak about possibility of renewable sources of energy. Buy hydrocarbon fuel still remains the most popular and claimed one in the world.
It is not accidental that every year tens of billions dollars are spent for search, exploration and production of oil and natural gas and the world biggest hydrocarbon makers, such as Saudi Arabia, USA, Canada and Kuwait, are among the richest countries in the world. Business Insider made a list of 18 countries with the biggest resources of oil and natural gas using “Annual Statistical Review of World Energy.”
Table of top 18 countries with biggest hydrocarbon resources
Countries | Total estimate in today's prices (trillion USD) | Confirmed resources | ||
Oil (billion barrels) | Gas (trillion cub.m.) | |||
1 | Russia | 40.7 | 87.0 | 32.9 |
2 | Iran | 35.3 | 157.0 | 33.6 |
3 | Venezuela | 34.9 | 297.6 | 5.56 |
4 | Saudi Arabia | 33.0 | 265.9 | 8.5 |
5 | USA | 28.5 | 35.0 | 8.5 |
6 | Canada | 20.2 | 173.9 | 1.98 |
7 | Iraq | 18.0 | 150.0 | 3.59 |
8 | Qatar | 16.4 | 23.9 | 25.06 |
9 | UAE | 13.8 | 97.8 | 6.09 |
10 | China | 13.2 | 17.3 | 3.1 |
11 | Kuwait | 11.8 | 101.5 | 1.78 |
12 | Turkmenistan | 9.7 | 0.6 | 17.5 |
13 | Australia | 3.9 | 3.76 | |
14 | Nigeria | 6.8 | 37.2 | 5.15 |
15 | Kazakhstan | 6.8 | 30.0 | 1.29 |
16 | India | 6.5 | 5.7 | 1.33 |
17 | Libya | 6.0 | 48.0 | 1.55 |
18 | Algeria | 3.4 | 12.2 | 4.5 |
- Confirmed coal resources of India - 60.6 million tons - Confirmed coal resources of Australia - 76.4 million tons - Confirmed coal resources of USA - 237.2 million tons - Confirmed coal resources of Russia - 157.0 million tons | ||||
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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