Nigeria’s
future looks bleak as its oil reserve depletes drastically, accounting for only
3.1 percent of OPEC crude reserve.
According to OPEC, Nigeria’s
proven crude oil reserve as the end of 2014 was 37.07 billion barrels ,and are
found mainly at the Niger Delta region. Read More http://www.opec.org/opec_web/en/data_graphs/330.htm
According to the estimates, more than 80% of the world's proven oil reserves
are still located in OPEC Member Countries, with the bulk of OPEC oil reserves
in the Middle East, amounting to around 66% of the OPEC total.
OPEC Member Countries have made significant additions to their oil reserves in recent years, for example, by adopting best practices in the industry, realizing intensive explorations and enhanced recoveries.
OPEC Member Countries have made significant additions to their oil reserves in recent years, for example, by adopting best practices in the industry, realizing intensive explorations and enhanced recoveries.
As a result, OPEC's proven oil reserves
currently stand at 1,206.00 billion barrels.
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