Oil and Natural Gas History

9 Questions

When was oil first discovered in the United Arab Emirates?

1958

Which organization coordinates and unifies the petroleum policies of its member countries?

Organization of the Petroleum Exporting Countries (OPEC)

ADNOC has played a minimal role in the economic development of Abu Dhabi.

False

In 2018, UAE's crude oil exports totaled ______ barrels per day.

2,296.5

Match the country with its crude oil reserves in million barrels (2018):

United Arab Emirates = 97,800 Saudi Arabia = 267,026 United States = 47,120 Russia = 80,000

What is the total Petroleum Products export of UAE in 2018?

918,000 b/d

In which year did the UAE have 1,127 thousand barrels per day in production?

2015

What is the total Natural Gas imports by China? ___ standard cubic meters

133,822

Match the following regions with their share in UAE Petroleum Products export in 2018:

Middle East = 10% Asia and Pacific = 58% Europe = 15% North America = 5% Latin America = 2% Africa = 10%

Study Notes

Oil and Natural Gas

Oil was known to man for thousands of years, with the first recorded mention in Chinese literature in 600 B.C.
Modern oil production began with Colonel Drake's discovery in Pennsylvania in 1859 and the Spindletop discovery in Texas in 1901.
Oil transformed the way people live and became the primary source of energy, replacing coal.

OPEC

The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization created in 1960.
OPEC's mission is to coordinate and unify the petroleum policies of its member countries and ensure a stable oil market.
OPEC accounts for 44% of global oil production and 81.5% of the world's proven oil reserves.

OAPEC

The Organization of Arab Petroleum Exporting Countries (OAPEC) is a regional intergovernmental organization established in 1968 by Kuwait, Libya, and Saudi Arabia.
OAPEC's headquarters are located in Kuwait.

Oil and Gas in the UAE

Oil was first discovered in the UAE in 1958 at the Murban Bab Oil Field.
The first exports of Abu Dhabi crude began in 1963.
The Abu Dhabi National Oil Company (ADNOC) was established in 1971 and plays a key role in Abu Dhabi's economic development.
Today, ADNOC manages and oversees production of around 3 million barrels of oil per day.

Oil Reserves and Production

Saudi Arabia has the largest proven oil reserves, with 267,026 million barrels.
The UAE has the 7th largest proven oil reserves, with 97,800 million barrels.
The world's total proven oil reserves amount to 1,497,986 million barrels.

Oil Exports

Saudi Arabia is the largest oil exporter, with 7,371,500 barrels per day.
The UAE is the 5th largest oil exporter, with 2,296,500 barrels per day.
The world's total oil exports amount to 75,780,000 barrels per day.

Natural Gas

Natural gas production, exports, and imports in the UAE have increased steadily from 2010 to 2018.
The UAE is the 7th largest natural gas producer, with 6,091 billion standard cubic meters.
The world's total proven natural gas reserves amount to 189,488 billion standard cubic meters.

Natural Gas Reserves and Production

Russia has the largest proven natural gas reserves, with 50,508 billion standard cubic meters.
The UAE has the 7th largest proven natural gas reserves, with 6,091 billion standard cubic meters.
The world's total proven natural gas reserves amount to 189,488 billion standard cubic meters.

Natural Gas Exports and Imports

The UAE is the 5th largest natural gas exporter, with 7,087 million standard cubic meters.
The world's total natural gas exports amount to 102,125 million standard cubic meters.
The UAE is also a significant importer of natural gas, with 26,050 million standard cubic meters.