Qatar’s hydrocarbon reserves are estimated to be worth an astronomical $9.5 trillion at current export prices, according to QNB Capital. The reserves work out to about one-sixth of the region’s (GCC) total which is estimated at a staggering $65trn.
QNB Capital said in a press statement issued yesterday that the reserves estimates are based on its new analysis. The GCC estimates are almost a third of the $200trn value of the world oil and gas reserves.
To put $65trn in context, it is equivalent to 47 times the GCC’s estimated GDP (gross domestic product or size of the economy) in 2011, or 93 percent of global GDP. It is also 125 times the estimated $521bn that the region’s governments received in oil and gas revenue during 2011.
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