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
African countries supply 12% world’s oil – PwC
Daily Sun - 6/18/2013 11:31:47 PM
PwC Africa Oil & Gas Industry Leader and Deputy Country Senior Partner ... that the oil and gas industry in Africa is poised for momentous growth due to recent large gas finds in East Africa. “Large gas finds in Mozambique and Tanzania, and oil potential ...
Top 10 oil and gas producing countries in 2012
mining.com - 6/14/2013 10:46:25 PM
Eight out of 10 countries increased their oil output ... rate” of proven oil reserves in-situ for any given country when applying current levels of domestic oil production. Canada is the wealthiest country by R/P ratio, with 153 remaining years of ...
Russia ranked world leader in shale oil reserves
RT - 6/11/2013 11:54:24 PM
Russian shale oil reserves are estimated at 75 billion barrels ... “As shale oil and shale gas production has grown in the United States to become 30 percent of oil and 40 percent of natural gas total production, interest in the oil and natural gas ...
BP cuts global gas reserves estimate, mostly for Russia
Reuters - 6/12/2013 3:32:08 PM
In its Statistical Review of World Energy published on Wednesday, BP put global proven gas reserves at 187.3 trillion cubic meters as of the end of 2012, enough for about 56 years of global production at current rates. BP's annual review of ...
Pars Oil & Gas Company announces BP ranks Iran as top holder of gas reserves
Your Oil and Gas News - 6/18/2013 6:28:09 AM
Oil major BP cut its global natural gas reserves estimate for the first time in decades, revising Russia's still classified holdings down sharply and putting Iran at the top of the world league table. In its Statistical Review of World Energy published on ...
Niko Resources increases proved reserves by 160%
scandoil.com - 6/14/2013 7:58:47 AM
The Company has received the final draft of the reserve ... Oil and Gas Evaluation Handbook, with an effective date of March 31, 2013. Highlights of the evaluations are as follows: Total Company Reserves ~160% increase to ~550 Bcfe of total proved ...
UPDATE 3-Rise in shale oil boosts global crude supply estimate -U.S. EIA
Reuters - 6/10/2013 8:28:00 PM
Shale reserves boost ... remain untapped across the world. In the first study of its kind by the U.S. government, the Energy Information Administration estimated technically recoverable shale oil reserves in 41 countries at 345 billion barrels.
U.S. oil boom helps thwart OPEC
CNN Money - 6/19/2013 9:25:55 AM
Oil workers on a rig in Midland County, Texas. Growth in U.S. oil production is putting pressure on OPEC. NEW YORK (CNNMoney) Surging U.S. oil production and greater energy conservation are helping keep a lid on oil prices worldwide and may be ...
BP cuts global gas reserves estimate
SteelGuru - 6/15/2013 2:14:00 AM
... Turkmenistan's reserves to 17.5 trillion from 24.3 trillion as well as reserves in Kazakhstan, Uzbekistan and Azerbaijan. On the oil side, BP estimated global proven oil reserves at 1,669 billion barrels at the end of 2012, up slightly from 1,654 ...
Indonesia Coal, Oil May Be Depleted in 10 Years
The Jakarta Globe - 6/14/2013 1:56:42 PM
subsequently leading to its decision to exit the Organization of the Petroleum Exporting Countries in 2008. “World proven oil reserves at the end of 2012 reached 1,668.9 billion barrels, sufficient to meet 52.9 years of production,” according to the BP ...
Shale oil boosts world reserves
Fiji Times - 6/12/2013 7:56:59 PM
ESTIMATED global reserves of shale oil could increase total world crude resources by ... recoverable" shale oil reserves in 41 countries. And about 7299 trillion cubic feet of shale gas reserves could boost natural gas resources by 47 per cent, the EIA ...
The Global Race for Shale Development Is On
Safe Haven - 6/18/2013 11:46:06 PM
Guess who the US Energy Information Agency (EIA) says has 430% more proven gas reserves than the US? Guess who has twice as much as the US in shale gas technically recoverable? Guess who has over twice as much proven oil reserves as the US? The EIA ...
Despite shale reserves, uncertainty remains
DAWN Group - 6/16/2013 7:34:56 AM
RIYADH: Pakistan is among the top 10 countries with shale oil reserves, a study put out by the Energy Information Agency (EIA), the statistical arm of the US Department of Energy reported last week. The current global ... areas have proved to be more ...
Russia Has World's Largest Shale Oil Reserves
Moscow Times - 6/13/2013 11:20:24 AM
after surveying reserves in 42 oil producing countries, Vedomosti reported. The EIA has released a report putting world shale oil reserves at 354 billion barrels, of which 75 billion are in Russia. The U.S. trails with 58 billion barrels, while China has ...
Oil’s well, let U.S. export it
Boston Herald - 6/18/2013 4:04:59 AM
Many also expressed concerns about “peak oil,” the claim that finite oil reserves were nearly exhausted. In the case of U.S. demand for energy, Americans — accustomed to low energy prices in previous decades — proved to be inefficient consumers in ...