Azerbaijan has ranked 20th with 7 billion oil reserves among the world countries rich with proven oil reserves, according to the Global Firepower (GFP) review for 2017.
With over 300 billion barrels of proven reserves, Venezuela is recognized as the country with the highest volume of proven oil reserves in the world.
The Kingdom of Saudi Arabia with 269 billion barrels of proven oil reserves comes second, while Canada is third with 171 billion barrels of proven oil reserves.
Top 10 list of the GFP review includes Iran with 157.8 billion barrels, Iraq with 143 billion barrels, Kuwait with 104 billion barrels, Saudi Arabia with 98 billion barrels, Russia with 80 billion barrels, Libya with 48.3 billion barrels, and Nigeria with 37 billion barrels of proven oil reserves.
The US ranks 11th with 36.5 billion, Kazakhstan is 12th with 30 billion, while China ranks 13th with 25 billion barrels of proven oil reserves, according to the GFP review.