Black Gold: Bahrain Biggest Oil Discovery and 10 Largest Oil Reserves in the World (INFOGRAPHIC)

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Bahrain announced its biggest oil discovery since 1932. 

Here’s why it’s so important for the Kingdom and see the list of top 10 countries by proven oil reserves.

Bahrain’s black gold

Bahrain, which sits between energy titans Saudi Arabia and Qatar in the Persian Gulf, has announced its biggest oil discovery since 1932.

Bahrain’s official news agency reported on Sunday the discovery of a new oil field off the country’s western coast that is forecast to contain “highly significant quantities of oil and gas.”

The news agency did not provide an estimate of how much oil and gas had been discovered, but it said the field is “understood to dwarf Bahrain’s current reserves.”

Worl largest oil reserves

Proven oil reserves are those that have a reasonable certainty of being recoverable under existing economic and political conditions, with existing technology.

However, some call the statistics controversial as different sources (OPEC, CIA World Factbook, oil companies) give different figures.

Nexter.org based on U.S. Energy Information Administration, accessed 3 Sept. 2016.

Oil-Reserves-infographic

Venezuela surpassed Saudi Arabia to become the holder of the largest oil reserves in the world. However, annual oil production of the OPEC supplier is considerably less than the Kingdom.

Saudi Arabia has almost one-fifth of the world’s proven oil reserves and ranks as the largest producer and exporter of oil in the world.

Russia, which also holds the world’s largest natural gas reserves and the second-largest coal reserves, is the second biggest oil supplier in the world after Saudi Arabia and the biggest one in Europe.

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Black Gold: Bahrain Biggest Oil Discovery and 10 Largest Oil Reserves in the World (INFOGRAPHIC)
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Bahrain announced its biggest oil discovery since 1932.  Here's why it's so important for the Kingdom and see the list of top 10 countries by proven oil reserves.
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