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 ...
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 ...
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 ...
Rs.1,150 Crore Plan to Build Strategic Petroleum Reserves
The New Indian Express - 8/2/2015 8:19:49 AM
India plans for a strategic reserve that could hold up to 1.3 million tonnes of crude oil. Under this plan, the government would set up a Strategic Crude Oil Storage of about 5.33 million tonnes at two other locations in the country -- Mangalore (1.5 ...
Iran's Oil Minister Says Output to Rise One Week After Sanctions
News Max - 8/2/2015 9:09:56 AM
Oil producers such as BP Plc and Royal Dutch Shell Plc have expressed interest in developing Iran’s reserves, the world’s fourth-biggest ... producer in the Organization of Petroleum Exporting Countries, produced an average of 2.85 million 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 ... Worldwide oil reserves are published by the U.S. Energy Information Administration (EIA) each year. The 12 member Organization of Petroleum Exporting Countries ...
Oil majors play out the waiting game
Gulf News - 8/2/2015 12:59:00 PM
Yet the response of the world’s biggest energy companies to the ... Some 20 billion barrels of oil equivalent in reserves, more than Mexico’s proven holdings, have been pushed further into the future. Deferring costlier projects — or postponing ...
Oil falls after OPEC comments imply no supply cut | Reuters
Firstpost - 8/1/2015 1:54:28 AM
Benchmark North Sea Brent crude headed for its fifth consecutive weekly fall after comments on Thursday in Moscow by Abdullah al-Badri, secretary-general of the Organization of the Petroleum Exporting Countries ... oil has gone into stockpiles around the ...
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 ...