$18 trillion energy reserves in GCC
Manama, October 24, 2009
The present value of oil and gas reserves of the six GCC countries is estimated at $18.3 trillion, larger than last year's GDP of the US, according to a note released by the Dubai International Financial Centre Authority (DIFC).
That figure assumes a conservative price of oil at $50 per barrel and gas at $9 per million BTU.
If oil prices were to average $100 per barrel and gas $15, the present value of GCC energy reserves would be $37.7 trillion, equal to the world's total stock market capitalisation at the end of last year. – TradeArabia News Service