An international company: Iraq's oil reserves are less than the declared
Arabic basnews 17/07/2021 - 09:53 Economy / Iraq
The consulting company (Rystad Energy) confirmed that Iraq's reserves of crude oil are less than what it announces The company stated in a report, that “the oil reserves that can be extracted are less than what governments announce, and less than what the British Oil Company announced in its last report, due to weak investments.”
In previous years, against the backdrop of low oil prices, and the outbreak of the Corona virus, she explained that “the oil reserves that can be extracted decreased by about 9.3%, compared to the estimates of last year 2020, it was 1.903 trillion barrels last year and has now decreased to 1.725 trillion barrels within a year.” 2021.”
And she indicated that “official figures previously indicated that the confirmed reserves of the OPEC countries amounted to 1.215 trillion barrels, while the real reserves amount to 741 billion barrels,” noting that
“the large differences in these reserves were concentrated in the countries of Iran, Iraq and the UAE Kuwait, Nigeria and Libya, as for outside OPEC, the differences are According to the company’s report,
“the reserves that can be extracted in Iraq are 110 billion barrels, while the declared reserves of Iraq from the official authorities are 145 billion barrels.”
And in Saudi Arabia "The reserves that can be extracted are 288 billion barrels, while official estimates are 297.5 billion barrels.
In Iran, its reserves are estimated at 101 billion barrels, while its official reserves are estimated at 157.8 billion barrels."
And she added that “the quantities that can be extracted from Kuwait’s oil reserves are 57 billion barrels, while official reserves indicate the presence of 101 billion barrels, and the
UAE indicates the presence of 71 billion barrels in its reserves, and its official reserves are 98 billion barrels,
and these reserves decrease in Venezuela will reach 44 billion barrels from the official 304 billion barrels.”
In its report, the company indicated that “global production of oil and natural gas liquids will drop to less than 50 million barrels per day by 2050.
Exploration of this amount of recoverable oil will lead commercially extracted, developed, processed and consumed to total greenhouse gas emissions of less than 450 gigatonnes of carbon dioxide between now and 2100.”
Rystad Energy is an independent energy and business intelligence research firm that provides data, tools, analytics, and advisory services. for the global energy industry.