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, 2014See also: Oil - proved reserves map
OPEC: Proven crude oil reserves in Member Countries reached 1,206 bn barrels by end of 2014.
wam.ae - 7/30/2015 11:58:08 AM
OPEC Member Countries petroleum products exports in 2014 stood at 4.5m b/d, while during the same year the imports were at 1.6m b/d, up 1.4 per cent year-on-year. World proven crude oil reserves stood at 1,492.9 billion barrels at the end of 2014 ...
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 ...
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 ...
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 ...
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 ...
Top 5 Oil-Producing Countries In 2011
Investopedia - 3/15/2011 11:59:20 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 ...
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 ...
How Much Oil is Left in the World?
Energy Trends Insider - 6/20/2012 11:54:16 PM
... that one must allow for reserves growth when looking at a country’s proved reserves. I think it’s a safe bet that even though U.S. proved reserves are 30.9 billion barrels, a lot more oil than that will ultimately be produced in the U.S. U.S ...
U.S. oil reserves highest since 1970s
Marine Link - 4/11/2014 11:20:10 AM
The two states at the heart of the fracking revolution accounted for more than 90 percent of all reserve growth across the country. Texas now accounts for 11.1 billion barrels of proved oil and ... out of the bottle: world oil since 1970").
COLUMN-U.S. oil reserves highest since 1970s: Kemp
Reuters - 4/11/2014 11:48:48 AM
The two states at the heart of the fracking revolution accounted for more than 90 percent of all reserve growth across the country. Texas now accounts for 11.1 billion barrels of proved oil and condensate reserves ... of the bottle: world oil since ...
How big is the U.S. Strategic Oil Reserve?
Oklahoma News - 8/2/2015 5:06:33 AM
The rapid increase in domestic oil ... the country’s dependence on foreign crude and made the world’s biggest emergency oil stockpile largely unnecessary. Some members of Congress now want to treat the country’s Strategic Petroleum Reserve as an ...
GCC share of global oil reserves likely to rise to 70%
Arab News - 7/7/2012 11:55:34 PM
Country-wise, Saudi Arabia retains 38.7 percent of world oil reserves whereas shares of Kuwait ... according to the report. Proven oil reserves in the GCC region are poised to increase due to advanced technologies being used in oil exploration processes.
Letter: Lifting oil export ban is a win-win for everyone
INFORUM - 7/31/2015 11:59:56 PM
When it comes to what are likely the world’s two most precious commodities ... Ohio and Texas shale formations to unlock vast reserves where before producers recognized oil and gas but lacked the tools to extract the gas. Shale technologies continue ...
World Oil Reserves Advanced in 2010, Buoyed by India, Brazil
Bloomberg - 6/8/2011 12:45:52 PM
June 8 (Bloomberg) -- Global proved oil reserves rose by ... BP said today in its annual Statistical Review of World Energy. India’s available oil climbed 55 percent to 9 billion barrels. Saudi Arabia’s reserves remain the largest at 264.5 billion ...
Iraq's Oil Output Surges to Highest Level in Over 30 Years
Wall Street Journal - 3/14/2014 4:11:04 PM
Despite possessing ample untapped oil resources, Iraq has struggled to meet production targets over the last five years due to logistical and bureaucratic disruptions. Yet the country holds the world's fifth-largest proven reserves and already pumps enough ...