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Climate change a major risk to global oil and gas reserves
Dec. 17, 2021

Climate change a major risk to global oil and gas reserves

KUALA LUMPUR (Dec 17): More than 600 billion barrels equivalent of the world’s commercially recoverable oil and gas reserves are facing high or extreme risks from more frequent storms and floods, rising sea levels and temperature extremes. In its Climate Change Exposure Indices released on Thursday (Dec 16), risk consultancy Verisk Maplecroft said Saudi Arabia, Iraq and Nigeria are among the oil and gas producing countries where the risk of climate-related events disrupting the flow of oil to global markets is the highest.

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