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
Oxford Business Group - 8/21/2014 11:13:56 AM
Home to an estimated 15.9% of the world’s proven oil reserves, Saudi Arabia is the single largest economy in the Middle East and North Africa. According to the Ministry of Finance, GDP grew by 9.3% to $746bn in 2013. While oil income is expected to ...
A volatility Middle East oil can ill afford
Gulf News - 8/22/2014 1:32:56 AM
Middle Eastern countries accounted for 48 per cent of proven oil reserves worldwide in 2013 ... Over the same period, gas producers added reserves in the rest of the world at an average rate of 1.8 per cent per year compared with 3 per cent in the Middle ...
Iraq's Kurds Look to Profit from Kirkuk Oil Chaos
Businessweek - 8/21/2014 10:52:28 AM
Aug. 21 (Bloomberg) -- Iraq has the fifth-largest proven oil reserves in the world, but the continued chaos has now reached parts of the country where that oil is produced. Bloomberg's Willem Marx reports on how factional fighting -- and a new pipeline ...
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 ...
30 countries with highest proven oil reserves
Rediff India Abroad - 3/1/2012 2:57:12 AM
And proven oil reserves are those that claim to have a reasonable ... 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 ...
Mexico Opens Oil Reserves to Foreign Companies for First Time in 76 Years
AllGov - 8/18/2014 11:31:49 AM
Mexican President Enrique Peña Nieto characterized the decision as “a great opportunity” for his country, which sits atop 20 billion barrels of oil still to be ... over most of Mexico’s “proven and probable reserves,” Ari Phillips of Think ...
Top 5 Oil-Producing Countries In 2011
Investopedia - 3/22/2011 11:58:11 PM
However, some have commented that current price rise may be an overreaction, since Libya produces only about 2% of the world's oil per day. While that is not an insignificant amount, other large oil producing countries ... barrels of proven oil reserves ...
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 ...
Top 10 oil and gas producing countries in 2012
Mining - 6/14/2013 10:46:25 PM
World oil production ... disposition of the 10 biggest oil producers. Another important indicator is the reserves-to-production (R/P) ratio which represents “burning rate” of proven oil reserves in-situ for any given country when applying current ...
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 ...
Venezuela has World's Second Biggest Oil Reserves
energytribune.com - 6/10/2010 11:59:45 PM
Those countries now officially include Venezuela. BP has set at 56.6 per cent its estimate of the proportion of the world’s proved oil reserves that are located in the Middle East. That is down from 65.7 per cent in 1989. Despite the region’s ...
World proven oil reserves at end 2006 edge down
Reuters - 6/12/2007 3:54:46 PM
He said global proved oil and natural gas reserves had been on an increasing ... which has alone generated almost half of the world's energy consumption growth over that period. Growth in industrialised countries has been relatively less energy intensive.
FACTBOX-Oil reserves: declining - but how fast?
Reuters - 7/21/2010 9:42:14 AM
July 21 (Reuters) - A declaration by Venezuela last week that it hopes soon to overtake Saudi Arabia as the country with the biggest oil reserves has stoked debate on how much oil and gas the world really has left. OPEC said last week its proven crude oil ...
Rosneft Says has World's Top Company Oil Reserves
CNBC - 4/26/2007 1:51:33 PM
"In 2006, Rosneft became the world leader among public companies in proven liquid hydrocarbon reserves ... Rosneft's main Russian competitor, the country's top oil producer LUKOIL, has SPE oil reserves of 15.3 billion barrels, while its total reserves ...