Largest New Discovery of Oil in USA Puts USA in Top Ten

Oil Platform

Another major discovery of oil has been made in Alaska of 1.2 billion barrels. It is the largest find of conventional oil for 30 years on US territory. The discovery was made by the Spanish oil company Repsol on Thursday with its US partner Armstrong Energy. According to a report from the company, the production potential is up to 120,000 barrels of oil per day, and production is scheduled to start in four years. This will probably increase the US standing to overtake Nigeria entering the list of top ten.

Rank Country Barrels (bbl)
1 Venezuela 298,400,000,000
2 Saudi Arabia 268,300,000,000
3 Canada 171,000,000,000
4 Iran 157,800,000,000
5 Iraq 144,200,000,000
6 Kuwait 104,000,000,000
7 Russia 103,200,000,000
8 United Arab Emirates 97,800,000,000
9 Libya 48,360,000,000
10 Nigeria 37,070,000,000
11 United States 36,520,000,000
12 Kazakhstan 30,000,000,000
13 Qatar 25,240,000,000
14 China 24,650,000,000
15 Brazil 15,310,000,000
16 Algeria 12,200,000,000
17 Mexico 9,812,000,000
18 Angola 9,011,000,000
19 Ecuador 8,832,000,000
20 Azerbaijan 7,000,000,000