New reserves of hydrocarbons have been unearthed in Abu Dhabi, the capital of the United Arab Emirates. According to Khaleej Times, about 7 billion barrels of crude oil and 58 trillion cubic feet of gas reserves are hidden here. After the discovery of this stock, the UAE reached the sixth position in terms of gas and oil reserves in the world.
Country's crude oil reserves now 105 billion barrels
The Abu Dhabi Supreme Petroleum Council (SPC) announced on Monday that the country's crude oil reserves have now risen to 105 billion barrels and conventional gas reserves to 273 trillion cubic feet after the discovery of new reserves.
UAE, the third largest producer of OPEC
Currently the UAE OPEC (Organization of Petroleum Exporting Countries) is the third largest oil producing country and produces 3 million barrels of oil daily. Saudi Arabia and Iraq produce more oil than this. Crown Prince Mohammed bin Zayed Al Nahyan appreciated the efforts of the Abu Dhabi National Oil Company for this discovery.
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