Arpita Mukherjee Ramneet Goswami January 2009 - icrier

Table 2.7 and Table 2.8 list the world’s largest oil producing and consuming countries,
respectively in 2007.
Table 2.7: Five Largest Oil Producing Countries in 2007
Rank Country Production (Mt) Percentage share
1 Saudi Arabia 493.1 12.6
2 Russia 491.3 12.6
3 USA 311.5 8.0
4 Iran 212.1 5.4
5 China 186.7 4.8
23 India 37.3 1.0
Total 3905.9 43.4
Source: Compiled from Oil – Production (pp. 9),BP (2008).
Note: The relative position of India is given for comparison.
Table 2.8: Five Largest Oil Consuming Countries in 2007
Rank Country Consumption (Mt) Percentage Share
1 USA 943.1 23.9
2 China 368.0 9.3
3 Japan 228.9 5.8
4 India 128.5 3.3
5 Russia 125.9 3.2
Total 3952.8 45.5
Source: Compiled from Oil – Consumption (pp. 12), BP (2008).
Natural gas has been discovered on all continents except Antarctica. The world’s largest
gas reserves in 2007 are given in Table 2.9. More than two-third of the natural gas reserves
are located in Russia and the Middle East. The leading gas producing and consuming
countries in 2007 are given in Tables 2.10 and 2.11, respectively.
Table 2.9: Countries with Largest Natural Gas Reserves in 2007
Rank Country Reserves (Tcm) Percentage share
1 Russia 44.6 25.2
2 Iran 27.8 15.7
3 Qatar 25.6 14.4
4 Saudi Arabia 7.2 4.0
5 USA 6.0 3.4
26 India 1.1 0.6
Total 177.4 62.7
Source: Compiled from Natural Gas – Proved Reserves (pp. 22), BP (2008).
Note: The relative position of India is given for comparison.
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