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
Millions of Barrels of Oil Are About to Vanish
Bloomberg - 5/22/2015 7:50:41 AM
Six years ago, the industry pushed the Securities and Exchange Commission to make it easier for companies to claim proved reserves ... Inc., the world’s top shale oil producer, more than 69 percent of its U.S. oil and liquids reserves have yet to be ...
Five reasons to invest in post-sanctions Iran's oil and gas sector
Oil Voice - 5/27/2015 11:33:49 AM
Iran is home to the world's fourth and second largest proven reserves of oil and gas respectively. Sanctions have kept the country's 158 billion barrels of oil and 33.8 trillion cubic metres of natural gas largely off limits for foreign investors for much ...
Dawn - 5/25/2015 1:42:03 AM
QATAR, the world’s largest exporter of liquefied natural gas and one of the smaller oil producing countries, has enjoyed significantly ... It possesses 5.5bn barrels of proven crude oil reserves which are 1.2pc of the total GCC reserves and almost ...
Oil company bosses' bonuses linked to $1tn spending on extracting fossil fuels
theguardian.com - 5/25/2015 10:27:35 PM
With estimated proven reserves of 13bn barrels of oil, Kashagan is one of the largest oil fields in the world – originally anticipated to produce more oil than Libya and with reserves greater than Brazil, according to the EIA. For Total, the brief spurt ...
Why oil firms want a say in global climate talks
The Christian Science Monitor - 5/25/2015 11:53:29 PM
The desert kingdom’s oil minister recently stated that his country would eventually be transitioning ... and sequestration can be developed, the world cannot burn through all the known oil and gas reserves. “We cannot burn all the hydrocarbon ...
OPEC sees rivals boosting oil output despite weak prices
Economic Times - 5/28/2015 6:17:40 AM
But shale oil production has proved ... The world's liquids resources are sufficient to meet any expected increase in demand over the next few decades," it said. "With plenty of oil still left in familiar locations, forecasts that the world's reserves ...
Global Crude Oil Projects Have Been Slashed By $100-B
Live Trading News - 5/25/2015 5:31:07 AM
The hardest hit of all may be the Oil sands projects of Western Canada. According to a report this weekend, 10 projects in Canada have been delayed due to the low Crude Oil prices and another 16 around the world ... estimated proved reserves of 400 to ...
15 countries with biggest oil reserves
Rediff India Abroad - 10/17/2011 11:53:42 PM
countries with the most oil within their borders are set to benefit as demand for crude continues to rise. As of 2010, the US government estimates that the world has proved reserves in the neighbourhood of 1.35 trillion barrels; the net amount of oil ...
Algeria - I Expect Oil Exports To Decrease
Seeking Alpha - 5/21/2015 3:34:10 AM
The country has a relatively central position with Europe and the Mediterranean to the North, the Arab world to the east ... contain at least a little bit of oil, the country has the potential to see its proven reserves expand in the future.
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 ...
Flame-out in oil-rich Canadian oilfields
biznews.com - 5/27/2015 10:46:41 PM
Canada, the world’s fifth-largest crude supplier, produces most of its oil from the oil-sands reserves of northern Alberta. The country will produce about 2.3 million barrels a day from the oil sands this year, according to the Canadian Association of ...
Ecopetrol reinvents itself to compete in the world based on value generation and sustainability
Market Watch - 5/26/2015 8:43:12 AM
In addition, the exploratory team based in Houston and Bogota will be strengthened by the addition of world-class human ... As for the company's reserves, the objective is to increase proved reserves by 1,700 million barrels of oil equivalent by 2020.
The U.S. Crude Oil Export Ban: An Outdated Relic Of The Past
jdsupra.com - 5/27/2015 7:54:54 PM
The Congress responded by banning the export of domestically produced crude oil without a license. The purpose of this new energy policy was to protect domestic oil reserves and reduce ... grown faster than any country in the world. In addition, refined ...
Crude Gains Ground: 3 Oil E&P Stocks to Buy
ZACKS - 5/26/2015 5:40:04 PM
This is because the country – the largest exporter of crude with 16% of the total proved reserves in the world, as per the EIA – needs to spend only $5–$6 per barrel to get oil out of the ground. As a result, although oil trickled to a six-year low ...
Rising oil prices
The Economist online - 5/26/2015 11:52:18 PM
Iraq and Libya have plenty of low-cost oil left to pump. For now those countries are chasing market share, rather than trying to raise prices by curtailing output. The other relevant factor is demand. The use of fossil fuels in the rich world is mostly ...