Original title: UAE announces major oil and gas discoveries
On November 4 local time, the UAE government announced that the newly discovered hydrocarbons are estimated to be 7 billion barrels of crude oil and 58 trillion cubic feet of conventional natural gas, which greatly increased the total reserves of the UAE and promoted it from seventh to sixth in the global oil and gas reserves.
According to the data announced by the supreme Petroleum Council (SPC) of Abu Dhabi, the United Arab Emirates on the same day, due to this new discovery, the total crude oil reserves of the United Arab Emirates jumped to 105 billion barrels and the conventional natural gas reserves jumped to 273 trillion cubic feet.
At present, the United Arab Emirates is the third largest oil producer of OPEC, second only to Saudi Arabia and Iraq, pumping about 3 million barrels of oil a day.