Quick Answer: Is Syria Rich In Oil?

Which country has the most oil reserves in the world?

VenezuelaOil Reserves by Country#CountryOil Reserves (barrels) in 20161Venezuela299,953,000,0002Saudi Arabia266,578,000,0003Canada170,863,000,0004Iran157,530,000,00094 more rows.

Is Syria a developed country?

Overview: Syria had a relatively well-developed agricultural and industrial base at independence in 1946, but following independence the economy underwent widespread structural change.

Where does Syria rank in oil production?

70thOil Production in Syria Syria produces 34,601.67 barrels per day of oil (as of 2016) ranking 70th in the world.

Who owns the most oil in the world?

VenezuelaVenezuela – 300 billion barrels Venezuela has the largest oil reserves of any country in the world, with more than 300 billion barrels of proven reserves. In 2011, the country surpassed Saudi Arabia to top the list of countries having the largest oil reserves.

Who controls the world’s oil?

OPECKey Takeaways. As of 2019, OPEC controlled roughly 75% of the world’s total crude oil reserves and produced 42% of the world’s total crude oil output. However, the U.S. was the world’s largest oil-producing country in 2019 with more than 12 million barrels per day.

Is there any oil in Syria?

Syria is the only significant crude oil producing country in the Eastern Mediterranean region, which includes Jordan, Lebanon, Israel and the Palestinian territories. … In 2010, Syria produced around 385,000 barrels (61,200 m3) per day of crude oil.

Is Syria a low income country?

Almost half of Syria’s five million labor force is unemployed. … The report said Syria, once a lower middle income country with a $67 billion GDP before the crisis that was witnessing expanding investments and fast growth, was now being transformed into a country “of poor people” .

How many years of oil are left in the world?

47 yearsThere are 1.65 trillion barrels of proven oil reserves in the world as of 2016. The world has proven reserves equivalent to 46.6 times its annual consumption levels. This means it has about 47 years of oil left (at current consumption levels and excluding unproven reserves).

Who controls the oil in Iraq?

According to one Iraqi politician, talking to us on a condition of anonymity in November, “by this deal, Russia got a lot of political power in Iraq. Oil is about 96 percent of Iraq’s export, but without a pipeline to export it, oil simply has no value to the country. So now Russia basically controls this export.”

Who runs Syria now?

Bashar al-AssadMarshal Bashar al-AssadVice PresidentAbdul Halim Khaddam Zuhair Masharqa Farouk al-Sharaa Najah al-AttarPreceded byHafez al-Assad Abdul Halim Khaddam (Acting)Regional Secretary of the Regional Command of the Syrian Regional Branch of the Arab Socialist Ba’ath PartyIncumbent30 more rows

Why does America buy oil from other countries?

Because of the global connectedness of oil markets, the U.S. still imported about 9.94 million barrels of petroleum in 2018 from 90 different countries. … Through open markets and a continual flow of imports and exports, matching refining capabilities that are more suited for different types of crude benefits us all.

What is Syria’s main export?

Economy of SyriaStatisticsExports$1.85 billion (2017 est.)Export goodscrude oil, minerals, petroleum products, fruits and vegetables, cotton fiber, clothing, meat and live animals, wheatMain export partnersLebanon 31.5% Iraq 10.3% Jordan 8.8% China 7.8% Turkey 7.5% Spain 7.3% (2017)Imports$6.279 billion (2017 est.)29 more rows

Who is the number 1 oil producing country?

List of countries by oil productionCountryOil production 2019 (bbl/day)01United States15,043,00002Saudi Arabia (OPEC)12,000,00003Russia10,800,00005Iraq (OPEC)4,451,51692 more rows

What Syria is famous for?

Syria’s capital, Damascus, has long been one of the Arab world’s centers for cultural and artistic innovation, especially in the field of classical Arab music. Syria has also produced several pan-Arab stars.

Who owns most of the gold?

The U.S.The U.S. owns the most gold of any country, according to an analysis of data from the International Monetary Fund, published on HowMuch.net. The U.S.’s reserve of gold equals 8,133 tonnes, worth more than $373 billion. Germany comes in second, with 3,369 tonnes, worth more than $154 billion.