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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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8 regions that have most oil and gas in the world
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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8 regions that have most oil and gas in the world
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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8 regions that have most oil and gas in the world
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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8 regions that have most oil and gas in the world
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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8 regions that have most oil and gas in the world
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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8 regions that have most oil and gas in the world
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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8 regions that have most oil and gas in the world
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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8 regions that have most oil and gas in the world
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.