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If predictions about Antarctica's 200 billion barrel oil capacity prove correct, the continent's reserves would be third largest in the world, according to the Lowy Institute.
The group said that from 1990 to 2009, the pipeline spill ratio was about 5.7 litres spilled per billion barrel kilometres and the railroad spill ratio was about 5.1 litres, 9% lower.
The studious contmplation of charts (Russia has 61 billion barrel oil reserve) and generalization (all Russians live on swine tushonka), left us light-headed, like some who have just flunked Times history quiz.
However, geological experts warned that the figures should be treated with more than a pinch of salt – especially since the 100 billion barrel estimate is so much higher than the 20 million estimate the company announced for the same licence area last October.
But earlier this week, Iraq signed an initial oil agreement on the 4.1 billion barrel Zubair oil field with a consortium of Eni, an Italian oil company, the United States-based OccidentandPetheleum, and the Korea Gas Corporation from South Korea.
Moreover, the Canadian Association of Petroleum Producers, which helped persuade Dr. Yergin and the Oil and Gas Journal to adopt the 180 billion barrel figure, lists Canada's oil reserves at just 12 billion barrels, because, officials there said, it uses a more conservative methodology for its own publications.
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The country has 112.5 billion barrels of known reserves, second to Saudi Arabia's 262 billion-barrel mother lode.
Oil reserves in 1970: 580 billion barrels.
In 2003, Russia produced 3.073 billion barrels.
The updated figures, show 1.9 billion barrels.
That is 1.8 billion barrels, compared with American oil imports of 4.3 billion barrels in 2009.
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