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 ...
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.
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 ...
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 ...
Venezuela Vulnerable to Oil’s Fall
Wall Street Journal - 10/17/2014 5:55:48 AM
CARACAS—This week’s plummeting world oil prices are throwing ... imports even more in a country that is already hit by shortages and relies on imports for 75% of all goods and services. Venezuela’s foreign reserves fell below $20 billion earlier ...
Accounting Inconsistencies In Big Oil Could Effect Your Portfolio
Yahoo Finance - 10/17/2014 3:28:28 PM
How bad could things get if the increase in U.S. oil production accounts for 197% of the total increase in global production? According to the BP Statistical Review of World Energy 2014 ... sign off on estimates of proved reserves, making them legally ...
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 ... of proven oil reserves, or ...
Oil gush keeps prices low as fear is high
Financial Times - 10/17/2014 5:51:38 PM
Something had to give, and that something has proved ... world economy that has meant weaker oil demand in emerging markets, where virtually all of the future growth in consumption is expected to occur. We at IHS estimate that output in countries outside ...
How long will world's oil reserves last? 53 years, says BP
The Christian Science Monitor - 7/14/2014 6:04:05 PM
According to BP, drivers whose vehicles rely on burning oil have a little more than a half-century to find alternate sources of energy. Or walk. BP’s annual report on proved global oil reserves ... world by having a large majority of the planet’s ...
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 ...
Saudi Arabia Energy Profile: 16% Of World’s Proved Oil Reserves – Analysis
Eurasia Review - 9/10/2014 11:57:38 PM
4 The giant Ghawar field is the world’s largest oil field in terms of production and total remaining reserves. The Ghawar field has estimated remaining proved oil reserves of 75 billion barrels,5 more than all but seven other countries. Saudi Arabia is ...
Why Venezuela’s World-Beating Oil Reserves Are 'Irrelevant'
CNBC - 6/14/2012 8:45:07 AM
Venezuela now boasts the world's largest proven oil reserves but the claim is “irrelevant” because ... A founding member of the Organization of Petroleum Exporting Countries, Venezuela's total deposits stood at an estimated 296.5 billion barrels ...
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 reserves” of crude oil in 2012 jumped by 15.4% to 29.2 billion barrels. This new official level is only about 13% of the declared reserves of Saudi Arabia. But U.S. oil ...
BP Says World's Proved Oil Reserves Fell in 2008
Oil Voice - 6/9/2009 11:57:09 PM
In a climate of unprecedented turbulence, global energy markets followed the same extreme pattern as the world economy in general during ... The Review reports remaining proved oil reserves of 1,258 billion barrels, excluding Canadian oil sands - enough ...
The 10 most oil-rich states
USA Today - 8/1/2014 9:24:38 PM
At the same time, proven oil reserves — the estimated quantities ... If Texas were its own country, it would be the sixth largest oil producer in the world. North Dakota has become the poster child of the energy boom in the United States as technological ...