Mining and Drilling in Asia Extractive activities are an important part of the economies of many Asian countries. China, India, Russia, and Indonesia are the continent’s most productive mining economies. These countries extract many of the same minerals. China is the world’s largest producer of aluminum, gold, tin, and coal. India is also a major producer of aluminum and iron ore, along with other minerals such as barite (used in drilling fluids), chromium (used in steel production and dyes), and manganese (used in steel production). Russia is a major producer of coal, tungsten (used in steel production), diamonds, iron, and steel. Indonesia is a major producer of coal, gold, copper, and tin. Countries on the Arabian Peninsula have the world’s largest deposits of oil and natural gas. These fossil fuels are drilled for energy and fuel, and make the region one of the most important in the international economy. The oil found throughout the Arabian Peninsula and Middle East is of the highest quality: light sweet crude. Light sweet crude oil is used to make gasoline, kerosene, and diesel fuels. It is in constant demand throughout the developed world. In 2010, Saudi Arabia was the world’s largest manufacturer of petroleum liquids, producing 10.07 million barrels of liquid fuels every day. (An oil barrel is 159 liters, or 42 gallons.) It also has the world’s largest oil reserves, at roughly 250 billion barrels. Saudi Arabia’s economy is heavily dependent on oil exports, which account for 80 to 90 percent of the country’s total revenues. Saudi Arabia, Iran, and the United Arab Emirates accounted for roughly 57 percent of global liquid fuels production in 2010. Another major player in Asia’s liquid fuels industry is Russia. Russia has oil reserves in Siberia, and massive natural gas reserves throughout the Arctic. Russia is the world’s largest producer of natural gas, and the largest supplier of natural gas to Europe. Russia has not aggressively drilled in the Arctic Ocean, but engineers say the area holds millions of barrels of oil and gas reserves. - Jasper
Posted on: Sun, 28 Jul 2013 08:10:29 +0000
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