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
Millions of Barrels of Oil Are About to Vanish
Bloomberg - 5/22/2015 7:50:41 AM
Six years ago, the industry pushed the Securities and Exchange Commission to make it easier for companies to claim proved reserves ... Inc., the world’s top shale oil producer, more than 69 percent of its U.S. oil and liquids reserves have yet to be ...
Oil's whodunit: Why millions of barrels are about to vanish
Sydney Morning Herald - 5/22/2015 10:49:38 AM
High stakes: More than half of the proved reserves ... able to book all these new reserves. It gave the industry a whole new lease on life in terms of being able to attract capital." At EOG Resources, the world's top shale oil producer, more than 69 ...
Nigeria - Oil Exports Will Decrease
Seeking Alpha - 5/19/2015 9:58:55 PM
However, one thing to note is that proven oil reserves are always subject to change - it is just dependent on how much investment the country is receiving. The United States, which receives more oil investment than almost any other country in the world ...
Low Oil Prices Pressuring Producing Countries
Think Advisor - 5/21/2015 5:21:32 AM
Saudi Arabia is burning through its foreign reserves. Saudi Arabia’s foreign reserves are down, thanks to lower oil sales, but that’s not the only reason. The country’s been spending ... investments elsewhere in the world. According to consultants ...
Top 10 countries in the world by oil consumption
explorationworld.com - 5/21/2015 12:35:12 AM
Anyone reading this article probably already know that the world ... reserves, imports and exports are also from 2013. This means those may not be up-to-date, but rather reflect the relationship of those metrics to 2013's global oil consumption.
OPEC countries need oil prices above $100/barrel to break in budgets: Experts
customstoday.com.pk - 5/22/2015 3:40:08 AM
DOHA: Energy expert Dr Mamdouh G Salameh says that, with the exception of Qatar and possibly Kuwait, most OPEC countries need oil prices above $100 a barrel to break even in their budgets. Here he puts the focus on Iran’s inflated oil reserves ...
The world's biggest oil exporter has quietly seized a market milestone from America
The Business Insider - 5/22/2015 3:04:21 AM
NEW YORK (Reuters) - As the United States raced over the past five years toward becoming a global petroleum powerhouse, the ... oil. To meet the surge at the peak of summer, Saudi Arabia, home to approximately 16 percent of all crude oil reserves, has ...
Germany’s Wintershall Interested in Occidental’s Libyan Oil Assets
Wall Street Journal - 5/21/2015 11:58:14 PM
Wintershall, the oil-and-gas unit of the world’s largest chemical company ... teaming up with the country’s state-run oil company to exploit Africa’s largest oil-and-gas reserves. But since last year, Libya’s oil industry has been crippled by ...
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 ...
15 countries with biggest oil reserves
Rediff India Abroad - 10/17/2011 11:53:42 PM
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 ...
U.S. out-produces rest of world in oil and gas from shale
The Bakken Magazine - 5/20/2015 8:31:50 PM
The Institute for Energy Research in Washington, D.C., says that despite other countries having significant oil and gas reserves in tight shale plays, the U.S. is the only nation that has capitalized on the energy resources of it shale reserves.
Oil rises, gold loses shine
Dawn - 5/24/2015 3:01:58 AM
OIL: World ... reserves, which was a key reason for the recent collapse in prices. In recent weeks, the oil market has fought back after prices plummeted more than 60 per cent between June and January, as the Organisation of the Petroleum Exporting ...
IMMIGRATION SHUTDOWN NOW: OIL CREATED A 100 YEAR WINDOW THAT'S CLOSING
News With Views - 5/21/2015 11:58:14 PM
But that’s what’s coming: 100,000,000 (million) legal immigrants will be injected into our country within 30 years ... lifetime....so I hazard to assert that as oil ceases to be cheap and the world reserves move toward depletion, we will be left ...
Middle East oil and gas automation market set to witness significant growth over the next few years
middleeastevents.com - 5/23/2015 8:25:17 AM
With 810 billion barrels in proven reserves (50% of global total ... top three fastest-growing markets in the world. Just last week, ADNOC announced that it is on track to hit the emirate’s target of raising oil production to 3.5 million barrels per ...
The World's Biggest Oil Reserves
CNBC - 8/22/2011 11:55:41 PM
With the most recent data from the Energy Information Administration and the CIA World Factbook, here are the countries with the biggest proven oil reserves. Click ahead for the list.