In the 2030s many oil producing countries are going to run out of oil
Malaysia has around 2 billion oil reserves that they've been pumping for a while now, they produce nearly 200 million barrels a year but export only about 80 million barrels
Their government said that they'll run out of oil in 2037 but they could be running dry years before that, think of it like when you're sipping a drink with a straw and theres some of it left at the bottom so you have to move the straw to reach it
www.themalaysianinsight.com
Petronas is Malaysia's oil company and basically kickstarted their economy for the past 50 years, their economy will take a serious hit when they run out of oil
Fun fact: The landmark of their country is literally the twin Petronas towers
Indonesia has even less barrels left than Malaysia and they also produce around 200 million barrels a year, they export much less tho at about 20 million barrels a year
Egypt had only 3 billion barrels left by 2021, they pump out 200 million barrels a year and export 30 million barrels
This article was written in 2013 btw
www.resilience.org
With these countries combined thats around 130 million barrels/year vanishing from global markets in the 2030s, if they dont find new significant reserves by then the space could be filled by new producers, only one I heard about is Uganda which has a bit more than 1 billion barrels, they're currently building a pipeline to tanzania to export
Malaysia has around 2 billion oil reserves that they've been pumping for a while now, they produce nearly 200 million barrels a year but export only about 80 million barrels
Their government said that they'll run out of oil in 2037 but they could be running dry years before that, think of it like when you're sipping a drink with a straw and theres some of it left at the bottom so you have to move the straw to reach it
Petroleum reserves can only last 15 years, says Azalina | The Malaysian Insight
Minister says situation could be improved with better technology, investments.
www.themalaysianinsight.com
Petronas is Malaysia's oil company and basically kickstarted their economy for the past 50 years, their economy will take a serious hit when they run out of oil
Fun fact: The landmark of their country is literally the twin Petronas towers
Indonesia has even less barrels left than Malaysia and they also produce around 200 million barrels a year, they export much less tho at about 20 million barrels a year
Egypt had only 3 billion barrels left by 2021, they pump out 200 million barrels a year and export 30 million barrels
This article was written in 2013 btw
2/3 of Egypt’s oil is gone 20 years after its peak
No matter who is ruling Egypt and for how long, this country faces a crippling energy crunch...
www.resilience.org
With these countries combined thats around 130 million barrels/year vanishing from global markets in the 2030s, if they dont find new significant reserves by then the space could be filled by new producers, only one I heard about is Uganda which has a bit more than 1 billion barrels, they're currently building a pipeline to tanzania to export
