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8 regions that have most oil and gas in the world

Last updated on: June 21, 2012 09:48 IST

8 regions that have most oil and gas in the world

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The United States Geological Survey published the first report since 2000 summarizing its estimates of total undiscovered conventional oil and gas resources for the rest of the world, excluding the US.

Using a region's given geology, the study found that about 75 per cent of the resources are in four principal regions.

But within these four regions, the estimated deposits are often concentrated in areas that have seen intense political turmoil in the past 30 years, which means some of these regions are highly volatile and risky for business.

Let's have a look at these regions.

Source, Business Insider

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Image: A driver waits in a taxi for his turn to fill up his tank with diesel at a fuel station in Kolkata.
Photographs: Rupak De Chowdhuri/Reuters

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The coast of West Africa

Estimated undiscovered oil: 86.25 billion barrels

Time elapsed since last power struggle: 8 years

In 2004, a group of mercenaries, financed in part by Margaret Thatcher's son, attempted to overthrow the president of Equatorial Guinea. They failed.

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Image: Competitors ride waves at the third annual Surf Liberia Contest at Robertsport on the coast of the West African nation.
Photographs: Simon Akam/Reuters

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8 regions that have most oil and gas in the world

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Iran and Iraq

Estimated undiscovered oil: 65 billion barrels

Time elapsed since last power struggle: 36 months

Although Iran's Green Revolution has been temporarily suppressed, there is no sign that the sentiments that led to the protests have dissipated.

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Image: A woman speaks on her mobile phone at the midway point of a slope at Shemshak ski resort in Iran.
Photographs: Caren Firouz/Reuters

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The coast of Brazil

Estimated undiscovered oil: 55.5 billion barrels

Time elapsed since last power struggle: N/A

Brazil has successfully transitioned to a fully functional democracy.

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Image: A rainbow forms after a cloudburst over Brazilian Congress in capital Brasilia.
Photographs: Jamil Bittar/Reuters
Tags: Brazil

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China

Estimated undiscovered oil: 15.7 billion barrels

Time elapsed since last power struggle: N/A

China remains a stable country although some problems remain.

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Image: A Venetian Lion emblem adorns the footpath as pedestrians walk across a bridge over a canal that flows through the centre of the Florentia Village in Wuqing, Tianjin, China.
Photographs: David Gray/Reuters
Tags: China

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8 regions that have most oil and gas in the world

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South Kara Sea (Arctic)

Estimated undiscovered oil: 622 trillion cubic feet

Time elapsed since last power struggle: N/A

While nothing headline-worthy has occurred yet, tensions between the US and Russia over arctic territory appear to be simmering.

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Image: Tourists take part in the reindeer safari at Arctic Circle near Rovaniemi, Finland.
Photographs: Kacper Pempel/Reuters

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8 regions that have most oil and gas in the world

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The Nile and Levantine basins

Estimated undiscovered oil: 566 trillion cubic feet

Time elapsed since last power struggle: 15 months

Although Egyptians have cast their votes for the president, violent protests continue to break out.

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Image: An aerial view shows Saint-George Yacht Club surrounded by construction work in Beirut.
Photographs: Cynthia Karam/Reuters
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Southeast Africa

Estimated undiscovered oil: About 400 trillion cubic feet

Time elapsed since last power struggle: 18 months

An agreement was signed last year to re-establish democracy in Madagascar after two coups occurred within 12 months of each other.

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Image: A view of Madagascar's capital Antananarivo.
Photographs: Tim Cocks/Reuters
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Australia

Estimated undiscovered oil: 227 trillion cubic feet

Time elapsed since last power struggle: N/A

Australia is relatively free of dramatic government shake-ups - nor at least, ones that aren't par for the course for any other Western nation.


Image: Rowers train at dawn on the Yarra River in Melbourne.
Photographs: Toby Melville/Reuters
Tags: Australia , A

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