Witnessed a drop of about 1.6 billion barrels, in 2010 compared to 2009. As at mid 2010, the Oil Reserves Depletion rate was 2.81percent based on estimated annual production volume of 894.79 million barrels, and using the reserve/ production ratio (R/P), the remaining Oil reserves indicate a life index of 35.55 years. This was disclosed [...]

Countries with huge economies and populations  USA, China, Russia, etc.  are the top ranking in the production, consumption and trading(export or import) of energy commodities; while those with energy abundance (Saudi Arabia, UAE, Russia) also feature prominently in the top-ten. Nigeria does not feature among the top ten of production in any energy commodity, but [...]