Middle east is one of the largest share of oil production in the world. According to Transparency International based on BP data regionally the largest share of proved oil reserves is in the Middle East (754 billion barrels, constituting 51 per cent of global reserves including oil sands and 57 per cent excluding them). According to BP of the world oil reserves were in Saudi Arabia 18%, Iran 9%, Iraq 8%, Kuwait 7% and UAE 7%.
A list of the Top National Oil Companies in Middle East:
1 Saudi Aramco (Saudi Arabian Oil Company).
Saudi Aramco founded in 1933, it is owned by Saudi Arabian Goverment. Headquarters is based in Dhahran, Saudi Arabia. Saudi Aramco produce some 12.7 million barrels of oil per day.
2 National Iranian Oil Company (NIOC)
The National Iranian Oil Company, a government-owned corporation under the direction of the Ministry of Petroleum of Iran, is an oil and natural gas producer and distributor headquartered in Tehran. It was established in 1948. CEO: Roknoddin Javadi
3 Qatar Petroleum
Qatar Petroleum founded in 1974, owned by the Goverment of Qatar, Headquarters in Doha, Qatar. Qatar Petroleum is the third largest producer and exporter of oil in the Middle East. Qatar Petroleum now produces 5.3 million barrels of oil per day.
4 Kuwait Oil Company (KOC)
The Kuwait Oil Company was founded in 1934. Headquarter in Ahmadi, Kuwait, owned by the Goverment of Kuwait, KOC produces in the region of 3.4 million barrels of oil per day.
5 Abu Dhabi National Oil Company (ADNOC)
The Abu Dhabi National Oil Company, was founded in 1971, owned by the Government of the United Arab Emirates (UAE). ADNOC produces 2.4 million barrels of oil per day.
6 Iraq National Oil Company (INOC)
The Iraq National Oil Company is owned by the Government of Iraq. Founded in 1966. Oil production is at 2.2 million barrels per day. Iraq produce 2.8 million barrels per day in January 2014.
7 Oman Oil Company (OOC)
The Oman Oil Company, founded in 1996, headquartered in Muscat, Oman, owned by the Goverment of Oman, produces almost one million barrels of crude oil per day.
8 National Oil Corporation, Libya (NOC)
The National Oil Corporation is founded in 1970, a company based in Libya and is owned by the Government of Libya. Company produces c2.2 million barrels of oil per day.
9. The Bahrain National Oil Company (BANOCO),
The Bahrain National Oil Company, wholly owned by the Bahrain Government, and is the holding company for the Bahrain Petroleum Company (BAPCO).
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