How much oil does Azerbaijan have (as a percentage of the known oil reserves)? Are their oil reserves useful at all, despite the massive amounts of oil in other places?
According to the DOE
Production ~ 300,000 bbls/day
Reserves ~ 12 billion bbls
According to various US govrernment statistics world reserves are between 1 and 2 trillion bbls.
So we’re talking about 1% of the world’s reserves.
300,000 bbls/day equates to $10,000,000 a day at today’s prices - I’d call that useful