8 regions that have most oil and gas in the world

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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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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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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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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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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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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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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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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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.