Connect with us

Energy

Western Athabasca Syndicate

Published

on

WASP snapshot

The Western Athabasca Syndicate boasts the largest mineral claim position held by a single group near the world-class Patterson Lake South discovery. Skyharbour Resources (TSX-V: SYH), Lucky Strike Resources (TSX-V: LKY), Athabasca Nuclear (TSX-V: ASC), and Noka Resources (TSX-V: NX) comprise the partnership.

The west side of the Athabasca Basin is relatively unexplored leaving significant exploration upside potential. The Patterson Lake South discovery in 2012 was a game changer. The Western Athabasca Syndicate control 709,513 acres of prospective land with interpreted favourable geology for PLS style uranium mineralization.

Skyharbour Resources (TSX-V: SYH) | Lucky Strike Resources (TSX-V: LKY) | Athabasca Nuclear (TSX-V: ASC) | Noka Resources (TSX-V: NX)

Click for Comments

Energy

The World’s Biggest Oil Producers in 2023

Just three countries accounted for 40% of global oil production last year.

Published

on

Donut chart showing the biggest oil producers by country in 2023.

The World’s Biggest Oil Producers in 2023

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email.

Despite efforts to decarbonize the global economy, oil still remains one of the world’s most important resources. It’s also produced by a fairly limited group of countries, which can be a source of economic and political leverage.

This graphic illustrates global crude oil production in 2023, measured in million barrels per day, sourced from the U.S. Energy Information Administration (EIA).

Three Countries Account for 40% of Global Oil Production

In 2023, the United States, Russia, and Saudi Arabia collectively contributed 32.7 million barrels per day to global oil production.

Oil Production 2023Million barrels per day
🇺🇸 U.S.12.9
🇷🇺 Russia10.1
🇸🇦 Saudi Arabia9.7
🇨🇦 Canada4.6
🇮🇶 Iraq4.3
🇨🇳 China4.2
🇮🇷 Iran3.6
🇧🇷 Brazil3.4
🇦🇪 UAE3.4
🇰🇼 Kuwait2.7
🌍 Other22.8

These three nations have consistently dominated oil production since 1971. The leading position, however, has alternated among them over the past five decades.

In contrast, the combined production of the next three largest producers—Canada, Iraq, and China—reached 13.1 million barrels per day in 2023, just surpassing the production of the United States alone.

In the near term, no country is likely to surpass the record production achieved by the U.S. in 2023, as no other producer has ever reached a daily capacity of 13.0 million barrels. Recently, Saudi Arabia’s state-owned Saudi Aramco scrapped plans to increase production capacity to 13.0 million barrels per day by 2027.

In 2024, analysts forecast that the U.S. will maintain its position as the top oil producer. In fact, according to Macquarie Group, U.S. oil production is expected to achieve a record pace of about 14 million barrels per day by the end of the year.

Continue Reading
HIVE Digital Technologies

Subscribe

Popular