![]() (NYSE:BP) and Abu Dhabi National Oil Co (ADNOC) jointly offered $2 billion to acquire 50% of Israeli natural gas producer NewMed Energy. It was at the forefront of oil discovery in the United Arab Emirates in 1958, and today produces over 170,000 barrels of oil per day in Abu Dhabi. (NYSE: BP), has been in the Middle East for over a hundred years now. Exxon Mobil Corporation (NYSE:XOM) has been operating in Saudi Arabia for the last 90 years and had a key role to play in the original Aramco, or Arabian American Oil Company, which is now Saudi Aramco. Over the past century, several global corporations from the energy sector have invested in this region. Other prominent exporters of oil include the United Arab Emirates, Kuwait, and Iraq. In 2022, it generated $161 billion in profits, which is more than triple of what Exxon Mobil Corporation (NYSE: XOM) earned that year. Saudi Aramco is one of the largest companies in the world by revenue, and is part of Fortune’s Global 500. One of these is Saudi Arabia, which is one of the largest exporters of oil in the world, and a founding member of OPEC. A number of those oil rich countries are in the Middle East and Africa. While Iran has the second largest proven natural gas reserves after Russia, estimated at over 1,133 trillion cubic feet, seven of the top ten countries with the largest share of oil reserves are OIC member states. The share of the Muslim world’s contribution to the global economy is disproportionate to the size of their population, but the Islamic world offers immense potential with a wealth of natural resources. In terms of GDP per capita, Qatar is the wealthiest Islamic country with an average Qatari earning $114,648 in 2022 according to the World Bank. You can read more about economic projections for 2050 in our article, 20 Largest Economies in the World by 2050. It is projected to be the fourth largest economy in the world by 2050. Indonesia is the largest economy in the Muslim world, having a nominal GDP of $1.31 trillion. Salaam Gateway, a leading platform tracking economy of the Islamic world, reported in 2017 that economies of OIC countries contribute 8.51% of the world’s GDP. 48 of these are Muslim majority countries, while the remaining are home to sizable Muslim minorities. The Organization of Islamic Cooperation (OIC) is the second largest intergovernmental organization in the world with 57 member states. By 2050, the share of Muslims in the world’s population will come close to that of Christians, 10% of Europe will comprise of Muslims, and India will retain its Hindu majority but will surpass Indonesia to have the largest Muslim population in the world for any country. According to the PEW Research Center, Islam is the fastest growing religion in the world. ![]() Religious dynamics are rapidly changing around us due to fertility rates, youth population among varying religious communities, and conversions. Home to 229 million Muslims, Indonesia is the largest Muslim country in the world in terms of population. Islam is the second largest religion in the world after Christianity, with over 1.8 billion people practicing the religion – which accounts for nearly 24% of the global population. To skip our detailed analysis on the Islamic world, you can head over directly to 10 Countries with the Highest Muslim Population in the World. In this article, we look at 25 countries with the highest Muslim population in the world.
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