What is the Zakat rate for oil and gas?

Zakat (definition) is not obligatory on oil and gas if they are public property. However, if they are private property, scholars have differed regarding their Zakat. The majority view is that Zakat is not obligatory on them. Some scholars, however, hold the view that Zakat is obligatory on them, based on the generality of Allah's saying: (O you who have believed, spend from the good things which you have earned and from that which We have produced for you from the earth) [Al-Baqarah: 267]. This is also because they are minerals like gold and silver, thus Zakat becomes obligatory on them. Furthermore, because it is wealth that, if acquired as spoils of war, would be subject to khums (one-fifth), then one-quarter of one-tenth (2.5%) becomes obligatory upon its extraction, and it is to be spent on the eligible recipients of Zakat. This latter view is more preponderant. However, if they are traded and become merchandise, then Zakat is obligatory on them without dispute.