Results for Tag: Persian Gulf

5 results found.
United Arab Emirates

The UAE has the world’s seventh-largest proven crude oil reserves and is one of the world’s wealthiest countries per capita. The hydrocarbon economy makes up to 80 per cent of the government’s revenue. At 525 million British thermal units (BTU) per capita, the UAE has a high level of per capita energy consumption, a result of rapid economic development, energy-intensive industries and heavy use of air conditioning in a hot climate.

Iran

With 10 per cent of the world’s oil reserves, Iran has the fourth largest oil reserves after Saudi Arabia, Venezuela and Canada. Iran played an important role in the international oil market until sanctions were first imposed in 1979 by the United States.

Turkey

Turkey, while not a large supplier of energy, is a major demand centre in the MENA region and a net importer of all three major fossil fuel sources .

Iraq

Iraq, along with neighbouring countries sits atop the world’s most prolific collection of hydrocarbon deposits, containing some 60% of the world’s known reserves.

Saudi Arabia

The Kingdom of Saudi Arabia is known the world over for its great oil wealth, which plays an important role in the country’s close relationship with the United States.