UAE says it has world's sixth-largest crude oil reserves

DUBAI, United Arab Emirates — The United Arab Emirates now says it is home to the world's sixth-largest crude oil reserves, surpassing fellow Gulf Arab nation Kuwait.

The UAE's Supreme Petroleum Council met on Monday and announced the news, saying the federation of seven sheikhdoms on the Arabian Peninsula had discovered new reserves of 7 billion "stock tank" barrels of oil.

The council said that pushed the UAE's overall reserves to 105 billion barrels. It also said it held the world's sixth-largest reserves of natural gas as well.

Oil reserves refer to crude that's economically feasible to extract. Figures can vary wildly by country due to differing standards, though it remains a yardstick of comparison among oil-producing nations.

People also read these

Afghan official says blast at Shiite mosque kills...

Aug 1, 2017

An Afghan hospital official says the death toll in the suicide attack inside a minority Shiite...

Young Afghans see opportunities dwindle as...

Aug 16, 2017

Young Afghans face dwindling opportunities, mounting fears as security unravels

Kabul catwalk: Afghan models show off traditional...

Aug 17, 2017

Amid tight security, Afghan models promote traditional clothing of country's ethnic groups in rare...

On Afghanistan's front lines, US commanders await...

Aug 22, 2017

Deep in the mountains of eastern Afghanistan, where Afghan troops are on the front lines against...

US historian who spent decades in Afghanistan...

Sep 10, 2017

An American historian who spent decades in Afghanistan working to preserve the heritage of the...

About Us

Get all the up-to-date breaking news about politics, business, entertainment, sports, lifestyles, weather, traffic, and local news in a seamless digital environment only in Morning Dispatcher.

Contact us: sales[at]morningdispatcher.com

Subscribe Now!

Quick Links

HomePress