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
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 ...
The World’s First Clean Oil Sands Project: Interview With Dr. Gerald Bailey
Eurasia Review - 9/2/2015 10:45:00 PM
Why it’s finally possible to make money extracting oil from oil sands cleanly—despite the current world’s depressed oil prices ... in the heart of the Utah oil reserves both in sands and in conventional reservoirs, near the town of Vernal.
For Russia, Oil Collapse Has Soviet Echoes
Wall Street Journal - 9/2/2015 10:16:22 PM
Mr. Aslund thinks it’s just 1%, astonishing for a country whose standard of living is barely 40% that of the U.S. This matters almost as much for the world as it does for Russia. Oil and gas wealth ... its foreign currency reserves, preventing the ...
Venezuela announces $5 billion Chinese loan for oil sector
Economic Times - 9/2/2015 8:00:22 PM
The two countries will negotiate "joint projects in the areas ... Venezuela, which has the world's largest proven oil reserves, has borrowed more than $50 billion from China in an oil-for-loans deal struck by Maduro's late mentor Hugo Chavez in 2007.
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 ...
Global stocks rise as China fears ease; oil rebounds
Reuters - 9/2/2015 9:33:25 PM
An upward revision in U.S. productivity data and a Federal Reserve report saying U.S. labour markets were tight enough to fuel small wage gains in some professions in recent weeks boosted sentiment. Rallying equities pulled crude oil up from lows in ...
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 ...
Govt to auction 69 small oil and gas fields on revenue sharing model
Financial Express - 9/2/2015 6:41:37 PM
“Today, the field produces about 20-25% of country ... current crude oil price of around $45/barrel, the production of hydrocarbon from this fields would help India cut down imports to the tune of Rs 3,500 crore. The currently proved reserves in ...
Top 10 oil and gas producing countries in 2012
Mining - 6/14/2013 10:46:25 PM
World ... by oil reserves. Iraq (132 years) and Iran (126 years) hold the second and third places, respectively. The US, China and Mexico are the most “unthrifty” countries with only about 11 years before they exhaust their current proved oil reserves ...
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 ...
The controversy over Shell's Arctic oil drilling, explained
Vox - 9/2/2015 1:48:08 PM
And in the interim, he's argued, we're still going to need oil. If we block drilling in the United States, some other country ... its reserves by 22 percent.) But finding new reserves keeps getting harder and harder. Most of the world's "easy" oil has ...
American Oil Reserves Now Top Saudi Arabia
Breitbart News - 4/15/2014 11:54:12 PM
But the U.S. must conservatively report “Proven Reserves” as the sum of the ... that are state-owned monopolies that control all oil development within a country. Unlike private companies, the World Energy Outlook 2010 warned that NOC “reserve ...
Climate change and oil portfolios: Divesting in the future
People's World - 9/2/2015 6:55:56 PM
I mean that across the country - and particularly in this region ... Green Century Capital Management's CEO says that "in 2013 and 2014 the top 200 oil companies (by amount of reserves) spent $674 billion in capital expenditures, on projects like offshore ...
Tide may turn for Senegal oil
The National - 9/2/2015 6:10:00 AM
CAPE TOWN // Along with the rest of the world ... of the oil price. Senegal, however, although yet to produce its first barrel, may be the breakout story of the decade. After nearly half a century of searching for oil off the country’s coastline ...
COLUMN-U.S. oil reserves highest since 1970s: Kemp
Reuters - 4/11/2014 11:48:48 AM
The views expressed are his own) Proved ... percent of all reserve growth across the country. Texas now accounts for 11.1 billion barrels of proved oil and condensate reserves, with North Dakota at 3.8 billion barrels. "Proved crude oil reserves in the ...