National ownership of oil reserves

Written by Lester Brown, et. al.

Oil production is also constrained politically.  About 80% of the remaining oil reserves are held by national oil companies, those that are partially or completely owned by state governments, such as Saudi Aramco and Russia's Rosneft.  Most of those reserves are conventional oil sitting in large underground fields.  That leaves 20% if the remaining bounties, including the majors, like BP, ExxonMobil, and Total, along with smaller independent companies.

Lester Brown, The Great Transition, p.20

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