OIL Price rise and the impact to oil exporting countries.
Wealth Transfer to Top World Oil Net Exporters, 2005*, $ Billion | |||||||
Country | Net Oil Exports | 2004 | 2005 | 2006 | 2007 | Total | |
---|---|---|---|---|---|---|---|
1) | Saudi Arabia | 9.1 | 36 | 79 | 113 | 136 | 364 |
2) | Russia | 6.7 | 27 | 58 | 83 | 100 | 268 |
3) | Norway | 2.7 | 11 | 24 | 33 | 40 | 108 |
4) | Iran | 2.6 | 10 | 23 | 32 | 39 | 104 |
5) | United Arab Emirates | 2.4 | 10 | 21 | 30 | 36 | 96 |
6) | Nigeria | 2.3 | 9 | 20 | 28 | 34 | 92 |
7) | Kuwait | 2.3 | 9 | 20 | 28 | 34 | 92 |
8) | Venezuela | 2.2 | 9 | 19 | 27 | 33 | 88 |
9) | Algeria | 1.8 | 7 | 16 | 22 | 27 | 72 |
10) | Mexico | 1.7 | 7 | 15 | 21 | 25 | 68 |
11) | Libya | 1.5 | 6 | 13 | 19 | 22 | 60 |
12) | Iraq | 1.3 | 5 | 11 | 16 | 19 | 52 |
13) | Angola | 1.2 | 5 | 10 | 15 | 18 | 48 |
14) | Kazakhstan | 1.1 | 4 | 10 | 14 | 16 | 44 |
15) | Qatar | 1 | 4 | 9 | 12 | 15 | 40 |
Grand Total: | 1,595 | ||||||
*Table includes all countries with net exports exceeding 1 million barrels per day in 2005. Price rise is increase from an assumed $25/bbl refiner's acquisition cost in 2002, which is a conservative estimate. |
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