Definition: This entry is the stock of proved reserves of crude oil in barrels (bbl). Proved reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions.
Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of January 1, 2012See also: Oil - proved reserves map
Iran Oil Deal Would Boost Oilfield Services
Barron's - 7/1/2015 11:59:43 PM
Iran holds the world’s fourth-largest proved crude-oil reserves -- 158 billion barrels -- and the world ... of a series of sanctions in late 2011 and mid-2012 that targeted the country’s oil sector, a number of foreign companies cancelled new and ...
Top 10 Countries With The World’s Biggest Oil Reserves
gulfbusiness.com - 4/13/2013 11:59:57 PM
countries, it stated. However, OPEC nations continue to overshadow the world in terms of reserves, holding more than 80 per cent of the world’s proven oil reserves, according to current estimates. The bulk of OPEC oil reserves – 66 per cent – are in ...
How Much Oil Does the World Have Left?
Forbes - 6/25/2015 1:36:54 PM
The 1P estimate is an estimate of proven reserves, what is likely to be extracted from a well, 90% probability. Probable reserves are given 50% certainty (2P) and possible reserves a 10% certainty (3P). Not only has the world’s oil supply failed to ...
World Proved Oil Reserves Data A Work Of Fiction
Oil Price - 12/9/2014 11:08:10 PM
The EIA publishes Annually a list of World ... the country possesses. Even the US has gotten in on the act, adding 11.5 billion barrels of proved reserves since 2009. They did not report US 2014 reserves. Most of this increase is light tight oil reserves ...
Nigeria: Opec Battles to Regain Crude Oil Revenue
AllAfrica - 7/1/2015 11:28:06 AM
Proven crude oil reserves in OPEC Member Countries remained largely unchanged at the end of 2014, as compared to 2013 and reached a level of 1,206bn b. The overall OPEC percentage share of world proven crude oil reserved at the end of 2014 stood at 80.8 ...
75th birthday of Kazakhstan strongman raises questions on country's future | Reuters
Firstpost - 7/4/2015 11:24:32 AM
"These countries all ... but he has proven a reliable strategic partner in the volatile region bordering Afghanistan and attracts massive investment from European and U.S. companies. He has opened up the lucrative oil sector to Chinese companies, won ...
Oil and Gasoline Fast Facts
ABC7 - 7/3/2015 2:43:10 AM
Members of the Organization of the Petroleum Exporting Countries (OPEC) produce about 40% of the world's crude oil, and possess almost 73% of the world's total proven crude oil reserves, according to OPEC and U.S. Energy Information Administration data.
10 Huge Countries Without Their Own Oil
24/7 Wall ST - 12/29/2014 7:28:11 AM
The world’s 1.635 trillion barrels of proved oil reserves are not evenly distributed among the globe’s 216 nations. Just three — Saudi Arabia, Venezuela and Canada — account for nearly a third of the total. There are far more countries with no or ...
Venezuela’s Biggest Oil Refinery Confronts Challenges
Wall Street Journal - 7/2/2015 4:31:44 AM
An oil bonanza supported the country’s Socialist government for more than ... In Venezuela’s refining capital, it wasn’t a surprise the country with the world’s largest proven crude reserves was forced to buy fuel from its sworn ideological foe.
Irish Oil Company Says It Found Gas in Its First Well Drilled in Morocco
moroccoworldnews.com - 7/1/2015 11:35:15 AM
... and Cairn have arrived in Morocco to explore the country’s offshore gas & oil potential reserves. Circle Oil, which runs gas & oil exploration operations in Morocco, Tunisia, Oman and Egypt, has a 75 per cent interest in the Lalla Mimouna permit.
Saudi Arabia Energy Profile: 16% Of World’s Proved Oil Reserves – Analysis
Eurasia Review - 9/10/2014 11:57:38 PM
4 The giant Ghawar field is the world’s largest oil field in terms of production and total remaining reserves. The Ghawar field has estimated remaining proved oil reserves of 75 billion barrels,5 more than all but seven other countries. Saudi Arabia is ...
OPEC Member Countries chalk up substantial achievements in 5 decades - report
KUNA - 6/25/2015 5:01:30 AM
Asian and Pacific countries were the largest importers of OPEC Member Countries' petroleum products (2.7 mb/d or 60.8 per cent). World proven crude oil reserves stood at 1,492.9 billion barrels at the end of 2014, 0.2 per cent higher as compared to the end ...
Exxon Mobil ends oil exploration in Madagascar after poor finds
Business Recorder - 7/4/2015 8:32:44 AM
Exxon has three production-sharing licences in Madagascar, which has no proven offshore hydrocarbon reserves ... growth in a country where discontent over unemployment and frequent power cuts has stoked anger. However, the World Bank and donors say the ...
Oil Minister to Lead Delegation on Energy Dialogue with Canada
NDTV - 7/3/2015 6:06:35 PM
Canada is a mineral resource rich country. According to estimates, Canada has third largest oil reserves in the world and has substantial natural gas reserves. State-owned Indian Oil Corporation (IOC) has invested in an LNG project in Canada.
American Oil Reserves Now Top Saudi Arabia
Breitbart News - 4/15/2014 11:54:12 PM
The U.S. Energy Information Agency (EIA) just reported that United States “proven ... Worldwide oil reserves are published by the U.S. Energy Information Administration (EIA) each year. The 12 member Organization of Petroleum Exporting Countries ...