16 Countries With The Biggest Oil Reserves In The World in 2017

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11. Nigeria

Proven Reserves (billions of barrels): 37.06

Between 2010 and 2015, Nigeria’s oil rents as a percentage of GDP slid to 3% from 12.4%. The country produces 2.05 million barrels of oil per day and exported petroleum products worth $27.79 billion last year, which represented 80% of its total exports. Nigeria’s oil and gas sector represents around 35% of its GDP. The government controls Nigeria’s oil production through the Nigerian National Petroleum Corporation, which manages joint ventures between the government and multinationals.

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