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
Top 10 Countries by Proved Natural Gas Reserves (and Their Production Rates)
explorationworld.com - 9/14/2014 11:52:53 PM
which accounts for about 17 percent of the world’s total proved reserves, according to the EIA. The country’s natural gas sector has taken a substantial hit in recent years (though not quite as significant as crude oil) as international sanctions ...
Somalia Plans to Start Producing Oil Offshore in Six Years
Mareeg - 10/23/2014 5:12:54 AM
While Somalia has no proven oil reserves, drillers are betting the country has a geology similar to that of Yemen, which lies across the Gulf of Aden and has 2.7 billion barrels of proven oil reserves. Somalia’s oil deposits may amount to as much as 110 ...
Oil: Blindsided by technology
Athens News - 10/21/2014 11:59:07 PM
The Organization of Petroleum-Exporting Countries (OPEC) came into its own when the United ... underlying calculation that the world had only about 40 years' worth of proven oil reserves left, can be set aside for a while. We are already up to 53 years ...
Analysis - Russia struggling to develop conventional oil reserves
Reuters - 10/23/2014 3:21:21 PM
According to Natural resources Minister Sergei Donskoi, Russia's remaining unallocated reserves count 1.9 billion tonnes of crude oil - barely 6 per cent of overall reserves. Russia still has the world's biggest ... with lenders in countries that have ...
Oil prices slide as US crude reserves surge
Breitbart News - 10/22/2014 5:52:51 PM
Reserves of gasoline or petrol dipped 1.3 million barrels ... "The latest figures on China?s oil demand have proved better than expected, which together with most of the US economic data being positive has eased concerns about demand.
Are Declining Oil Prices Increasing the Risks to OPEC, U.S. Energy Security or Clean Fuels Supplies?
The Energy Collective - 10/23/2014 5:37:21 PM
By releasing large volumes of IEA Strategic Petroleum Reserve oil World supply-demand balances were directionally restored, which helped mitigate further market price increases mid-2011. Due to a combination of major Countries’ economies slowing again ...
Saudi Arabia: Oil Giant
Today's Energy Solutions - 10/22/2014 8:08:52 PM
Accounting for 16% of the world’s proved oil reserves, Saudi Arabia decreased its petroleum liquids production in 2013, but that hasn’t hurt its position as one of the most important global oil hubs.
Falling Oil Prices Stretch Venezuela's Books to Limit
Naharnet - 10/22/2014 5:21:14 AM
Venezuela, which sits atop the world's largest proven crude reserves, relies on oil sales for 96 percent of its budget. The recent plunge in prices, which have hit a four-year low, is bad news for a government already running a deficit of 15 percent of ...
New Market Research Report: Belgium Oil & Gas Report Q4 2014
eTV Futures - 10/23/2014 11:42:26 PM
A small amount of unconventional exploration may be possible targeting Belgium’s coal-bed methane, but the potential exit of one of the country’s key energy ... Capacity and Reserves: Proven oil reserves (bn barrels), production, consumption, refinery ...
New Market Research Report: Turkey Oil & Gas Report Q4 2014
software20.it - 10/23/2014 10:42:10 AM
Oil Market Outlook and Oil Products Outlook Based on our country coverage of over 99% of global oil ... Consumption, Capacity and Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (`000b/d); Proven ...
Oil, the Real Economic Stimulus
The Patriot Post - 10/23/2014 9:44:54 AM
American workers and motorists got some badly needed relief last week when the price of oil plunged ... the world’s proven oil reserves.” Then he continued with his Malthusian nonsense: “Even if we drilled every square inch of this country right ...
Oil prices firm before weekly US inventories
France 24 - 10/22/2014 11:12:00 AM
s oil demand have proved better than expected ... of Energy will publish its oil inventories report for the week ending October 17. Crude oil reserves are forecast to have risen by 3.1 million barrels last week, according to analysts polled by Dow Jones ...
Global Oil Markets: There And Back Again
Seeking Alpha - 10/23/2014 2:45:33 PM
And second, in the short run, prices will respond more changeably to demand and supply shocks (from the summary): "Seemingly small shocks exert large effects in oil markets. Taking 1 million barrels per day out of the world market is a loss equal to ...
Saudis cut oil supply to markets
American Thinker - 10/24/2014 1:18:28 PM
Before you weep tears of sympathy for the desert oligarchs, keep in mind that the Saudis have about a year’s worth of income held as reserves ... person familiar with the country’s oil policy. Its production climbed. The world’s biggest crude ...
Russia Loses Oil Ally in De Margerie After Moscow Crash
Yahoo Finance - 10/22/2014 12:23:34 PM
Under his leadership, Total bet big on the world's largest country by landmass ... which has the world's largest proven oil and gas reserves, none has advocated as forcefully against isolation as Total. De Margerie "said out loud what many didn't dare ...