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
How long will world's oil reserves last? 53 years, says BP
The Christian Science Monitor - 7/14/2014 5:21:08 PM
According to BP, drivers whose vehicles rely on burning oil have a little more than a half-century to find alternate sources of energy. Or walk. BP’s annual report on proved ... lead the world by having a large majority of the planet’s reserves ...
BP Says The World Only Has 53 Years Of Oil Left, Should You Panic?
Jalopnik - 7/10/2014 7:31:44 AM
From the report: Total world proved oil reserves reached 1687.9 billion barrels ... constantly revising the amount of oil left in the world's various reserves, and it's possible some countries are being less than truthful about their own supply.
The 17 Countries Sitting On The Most Valuable Energy Reserves
The Business Insider - 2/12/2014 11:56:08 PM
Saudi Arabia has nearly one fifth of the world’s proven oil reserves, in addition to being the largest producer and exporter of petroleum. Its largest oil field, the giant Ghawar field, has more proven oil reserves than all but seven countries.
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 ...
Gastar Exploration reports 43% increase in mid-year proved reserves
Your Oil and Gas News - 7/23/2014 3:48:44 AM
Gastar Exploration Inc. (NYSE MKT: GST) ("Gastar") today reported that estimated proved reserves of natural gas ... Gastar Exploration Inc. To access over 3,500 of the latest oil projects from across the world visit Projects OGP for free trial today
US Grabs Lead in Natural Gas
Investing Daily - 7/22/2014 1:44:03 PM
World consumption of natural gas is about 24% of all primary energy consumed, behind oil’s 33% share and coal’s 30 ... we are in fifth place for proved global natural gas reserves. (From BP’s definitions: “Proved reserves of natural gas are ...
OPEC’s Annual Statistical Bulletin 2014 Released
The Daily Fusion - 7/22/2014 4:50:10 PM
World oil demand rose by 1.2% in 2013 ... particularly Colombia, Brazil and Argentina. Proven crude oil reserves in OPEC Member Countries indicated an increase of 0.4% in 2013 to reach a level of 1,206 billion barrels. The overall OPEC percentage share ...
30 countries with highest proven oil reserves
Rediff India Abroad - 3/1/2012 2:57:12 AM
Oil and gas have made Qatar one of the highest per-capita income countries, and one of the world's fastest growing. Qatar's proved reserves of natural gas are nearly 26 trillion cubic metres, about 14% of the world total and the third largest in the world.
How low could crude oil go?
Uncommon Wisdom Daily - 7/9/2014 12:19:15 PM
They also own more than 70% of all proved oil reserves in the world. This is the total oil supply of the top oil producers in the world as of 2011 and 2012: There are 13 countries listed in the table, and eight are OPEC members. (Note that 2013 production ...
Global oil supply and demand equation poses risks
The Daily Star - 7/14/2014 5:49:46 PM
then global oil should last about 42 years. I don't believe the world has 1.52 billion barrels proved reserves. Look at most of the non-Opec countries' reserves including Mexico and Canada. Most countries are showing declines, but many Opec countries ...
Top 5 Oil-Producing Countries In 2011
Investopedia - 3/22/2011 11:58:11 PM
Here are the top five oil-producing countries from 2010 ... Saudi Arabia has the world's largest proven reserves of oil, with approximately 265 billion barrels, or about 20% of the world's proved oil reserves. This allows Saudi Arabia to increase and ...
Top 10 oil and gas producing countries in 2012
Mining - 6/14/2013 10:46:25 PM
World oil production rose about 2.5% last year ... ratio which represents “burning rate” of proven oil reserves in-situ for any given country when applying current levels of domestic oil production. Canada is the wealthiest country by R/P ratio ...
The Truth About The Worlds Oil Reserves: In Depth Look
Value Walk - 3/18/2012 11:58:22 PM
According to current estimates, more than 80% of the world’s proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to 65% of the OPEC total. OPEC Member Countries have made significant ...
15 countries with biggest oil reserves
Rediff India Abroad - 10/18/2011 5:22:59 AM
countries with the most oil within their borders are set to benefit as demand for crude continues to rise. As of 2010, the US government estimates that the world has proved reserves in the neighbourhood of 1.35 trillion barrels; the net amount of oil ...
Venezuela Passes Saudis to Hold World’s Biggest Oil Reserves
Bloomberg - 6/12/2012 11:56:35 PM
Venezuela surpassed Saudi Arabia to become the world’s largest holder of proven oil reserves, a resource that President Hugo Chavez promises to tap if he gets re-elected in October. The South American country’s deposits were at 296.5 billion barrels at ...