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
Saudi Arabia Exports 20% of the World’s Oil
24/7 Wall ST - 1/25/2015 9:19:20 AM
Of the OPEC countries the Saudis account for a third of ... crude oil from the U.S. will have essentially no long-term impact on world oil markets especially given that its proved reserves of around 26.5 billion barrels are less than 10% of Saudi Arabia ...
U.S. Oil and Gas Reserves Soar
Heartlander Magazine - 1/23/2015 6:15:35 AM
Continuing a trend that has sent ripples through global energy markets in recent years, U.S. oil and natural gas reserves hit new highs in 2013, according to a December 2014 Energy Information Administration report. Proved ... become the world’s largest ...
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 Proved Reserves of Crude Oil. Though all charts in this post use the ... by bureaucrats with hardly any connection to actual reserves the country possesses. Even the US has gotten in on the act, adding 11.5 ...
Top 10 Countries by Proved Natural Gas Reserves (and Their Production Rates)
explorationworld.com - 9/14/2014 11:52:53 PM
With oil consumption ... cubic feet of natural gas in 2012. 6. Turkmenistan – 265 trillion cubic feet in proved reserves A country that seems almost conspicuously absent from geopolitical discussion considering its vast natural gas reserves, Turkmenistan ...
The 17 Countries Sitting On The Most Valuable Energy Reserves
The Business Insider - 2/13/2014 11:51:58 AM
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.
Death of King Unlikely to Alter Saudi Oil Policy
Wall Street Journal - 1/24/2015 2:39:39 AM
The country’s current strategy has the backing of its ... Saudi Arabia controls more than 15% of the world’s proven oil reserves and vies with Russia and the U.S. for the title of biggest petroleum producer in the world. As American companies have ...
30 countries with highest proven oil reserves
Rediff India Abroad - 2/29/2012 11:58:14 PM
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 ...
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 ...
Saudi King leaves his legacy behind in the oil rich Kingdom
Dawn - 1/23/2015 2:00:52 PM
Economy: At 265.4 billion barrels, Saudi Arabia possesses the second-largest known reserves of crude oil in the world, after Venezuela. A close ally of the United States, it is a leading member of the Organization of Petroleum Exporting Countries and often ...
Who Will Rule the Oil Market?
New York Times - 1/22/2015 11:56:12 PM
By leaving oil prices to the market, Saudi Arabia and the emirates also passed the responsibility as de facto swing producer to a country ... in the world oil market in a way that could not have been imagined five years ago. It has proved to be a truly ...
Oil slump won’t hit 2022 plans: Minister
The Peninsula - 1/25/2015 12:15:18 AM
... lower world oil price would not in any way hinder its plans to host the coveted 2022 FIFA World Cup. Surplus revenue in recent years, when global crude rates averaged at $100 a barrel, has generated enough reserves for the country. This will allow the ...
East Africa’s oil dream can only be realized after 2020
Spy Ghana - 1/25/2015 2:55:46 PM
Uganda’s oil discovery is estimated at 2.5 billion barrels, according to the International Energy Agency; while Tullow, a major investor in Kenya’s oil, estimates the country’s reserves at above ... that “the world will never again see the ...
Who controls the power in oil market
The Straits Times - 1/25/2015 10:05:16 PM
But on Nov 27, at the Organisation of Petroleum Exporting Countries (Opec ... American shale oil has become the decisive new factor in the world oil market in a way that could not have been imagined five years ago. It has proved to be a truly disruptive ...
Venezuela debt rating cut by Moody’s as oil prices continue falling
Financial Post - 1/13/2015 11:35:15 AM
Moody’s Investors Service cut its rating on Venezuela by two notches to the agency’s third lowest on Tuesday, citing a high risk of the country defaulting ... relies heavily on oil exports, has the world’s largest proven oil reserves totalling ...
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 ...