Energy in a Globalised World - Energy and Climate: How to Achieve a Successful Energy Transition - page 6

Figure 1.3 Distribution of fossil fuel reserves (Gtoe) (Source: BP Statistical Review
2008)
In the sector of hydrocarbons, the producing states are currently
generally reluctant to open their oil and gas fields to the big international
companies. This is the case for most of the OPEC members: Saudi Arabia
and Kuwait are completely closed. Outside of OPEC, this is also true of a
country likeMexico. Recent times have beenmarked, in several producing
countries, for example Russia, Venezuela, Iran and Qatar, by a greater
desire for national control, resulting in particular in renegotiation of
contracts signed with the international companies.
The political situation of some of the countries in the Middle East,
which contains 57% of world oil reserves and 40% of world natural gas
reserves, is particularly unstable. Oil production in Iraq has dropped to
about 2 million barrels a day, due to the current conflict, a figure much
below its actual production capacity. In Iran, the conflict with the
international community over the nuclear issue is delaying investments
and new developments in the hydrocarbon sector. Saudi Arabia itself
seems to be in a delicate situation, having to cope with a declining
economy and the threat of terrorism [4]. Oil is often a source of conflict
and oil revenue can often be diverted to finance wars.
Reserves of natural gas are less concentrated; Russia holds a leading
position with one-third of the global reserves, and is one of the main