The total known reserves of petroleum are estimated at about 1,00,000 million tonnes. Of this four countries of Southwest Asia (Saudi Arabia - 23.4% Kuwait-10.5%, Iran - 9.8% and Iraq - 5.3%) together have nearly 60% of world total reserves. Russia has 11% of the reserves. The United States has only 5% of world's reserves. Other major countries having considerable reserves are Mexico, Venezuela, Libya, Abu Dhabi, Nigeria and China.
About 60 p.c. of the world's proved petroleum reserves are concentrated in lands bordering the Persian Gulf, viz., Saudi Arabia, Kuwait. Iran, Iraq and Qatar, Agha Jaria of Iran, Burgau of Kuwait and Abqaiq are extremely important oil fields.
U.S.A. The U.S. has a crude oil reserve of 29,044 million barrels. It raised 578 million metric tons of crude oil in 1988. She produces about 17 per cent of world's production. 80% of her production is used in the country itself.
Appalachian field. The Appalachian field extends from southwestern New York through Pennsylvania and eastern Ohio and southward into Tennessee. The earliest production of oil was started in the Appalachian field. The quality of oil was very high. The oil of this region is paraffin base crude characterized by a low percentage of residue. It is free from sulphur and is easily refined. Because of its nearness to the manufacturing and marketing centres, it is the highest priced crude in the USA
The Illinois-Indiana Province. The producing area of Illinois is mostly in the southern part of the state, the field extending into the adjacent portions of Indiana-Kentucky area. Production began in 1889 with 1000 barrels. The oil is mostly of paraffin base and is easily refined. The content of the natural gasoline being relatively low, 15%-20%, the crude has lower market value.
The Mid-Continent Province. This is the biggest oil field in the world supplying about half of U.S. oil output and with a reserve of more than 50% of the American reserves. The field extends from Kansas City southward across Kansas and Oklahoma, into Texas and thence eastward across northern Louisiana and southern Arkansas. Production began in 1890 and since then it has mounted steadily. The mid-continent province produces all grades of oil ranging from light paraffin base oils to heavy asphalt base oils. The largest oil field is in east Texas.
The Gulf Coast Province: It includes the producing areas of the coastal plains of Texas, Louisiana and eastward to Florida. Drilling has been done in southern Mississippi and in the coastal plains of Alabama. The production began in 1901. The oils of this field occur in domed strata and are heavy asphaltic. So it is used as fuel oil and sulphur is produced as a by-product. However one of the chief uses of petroleum of the Gulf Coast is for marine fuels.
The Rocky Mountain Province It extends from the Canadian border to New Mexico and includes many types of structures and topographies. The production is of various kinds and qualities of petroleum. The most important producing states are Wyoming and Montana. The oils vary from light to heavy oils of asphalt base. The possibilities are great in view of the vast land area of these States.
Crude Petroleum Production
(in million metric tons)
1980 1985 1988
World 2350 3420 3435
U.S. 530 575 578
U.S.S.R. 358 780 781
Venezuela 190 180 185
Kuwait 142 120 122
Iran 193 110 112
Iraq 76 70 70
Saudi Arabia 176 346 348
Canada 38 40 40
Indonesia 25 23 22
Romania 18 20 20
Colombia 10.5 11 11
Mexico 15 12 12
Egypt 6 5 5
China 18 112 123
Japan 0.5 0.6 0.5
India 11.6 26 26.5
Sources: UN Statistical Year Book
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