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The peninsula is commonly described as "oil-rich", though in fact no commercially viable deposits of oil have been discovered. However, the area has aroused considerable interest from oil companies in the light of the discovery of rich reserves of high grade crude oil in Nigeria. At least eight multinational oil companies have participated in ...
The oil-rich countries (excluding Iraq) that have a coastline on the Persian Gulf are referred to as the Persian Gulf States. Iraq's egress to the Persian Gulf is narrow and easily blockaded, consisting of the marshy river delta of the Shatt al-Arab , which carries the waters of the Euphrates and the Tigris rivers, where the east bank is held ...
In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to be economically viable. Similarly, Venezuela 's proven reserves jumped in the late 2000s when the heavy oil of the Orinoco Belt was judged economic.
The Arab states of the Persian Gulf or the Arab Gulf states ( Arabic: دول الخليج العربي) [ 1] refers to a group of Arab states bordering the Persian Gulf. There are seven member states of the Arab League in the region: Bahrain, Kuwait, Iraq, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. [ 2][ 3][ 4] Yemen is bound to ...
The proven oil reserves in Saudi Arabia are reportedly the second largest in the world, estimated in 2017 to be 268 billion barrels (4.3×10^10 m 3) (Gbbl hereafter), including 2.5 Gbbl in the Saudi–Kuwaiti neutral zone. This would correspond to more than 50 years of production at current rates. In the oil industry, an oil barrel is defined ...
The Alaska Purchase was the purchase of Alaska from the Russian Empire by the United States for a sum of $7.2 million in 1867 (equivalent to $129 million in 2023). On May 15 of that year, the United States Senate ratified a bilateral treaty that had been signed on March 30, and American sovereignty became legally effective across the territory ...
Sudan and South Sudan have disagreed over control of Abyei since a 2005 peace deal ended decades of civil war between […] The post 52 killed in clashes in the disputed oil-rich African region of ...
History of the oil industry in Saudi Arabia. Dammam No. 7, the first commercial crude oil well in Saudi Arabia, struck oil on March 3, [1] 1938. Saudi Arabia crude oil production 1950-2012. CIA map of petroleum concessions, oil fields, and installations in 1952. Saudi Arabian oil was first discovered by the Americans in commercial quantities at ...