What has been identified as, according to the relevant literature, the relationship between natural resources and conflict? In what ways are natural resources used to trigger conflict and instability? Who are the main players and actors in resource conflicts? To address these questions, this article critically reviews the main theoretical and empirical works on conflict, natural resources, abundancy and scarcity. In doing so, the article aims to update the existing discussion with the latest literatures, which is more skeptical about the relationship between natural resources and conflict. Constructively, the main objective of this review is to explain that in spite the diverse arguments on show; there is a systematic shortcoming in the existing literature. In doing so the article illustrates persistent research shortcomings and difficulties in the theoretical and empirical arguments that have been put forward so far.