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
Iran: Oil Sanctions Upset World Energy Balance
tasnimnews.com - 8/26/2014 8:52:00 AM
Elsewhere in his comments, the minister expressed the country’s determination to acquire ... “By possessing around 157.3 billion barrels of proven oil reserves, we hold 11 percent of the world’s oil reserves,” Zanganeh added, noting that Iran ...
The 17 Countries Sitting On The Most Valuable Energy Reserves
The Business Insider - 2/12/2014 11:56:08 PM
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.
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 ...
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 ...
Comment: Would iScotland have sufficient oil?
The Scotsman - 8/24/2014 9:15:51 AM
Traditionally, the ratio of a country’s proved reserves to its annual production ... increase of 1.4 million barrels per day (BP Statistical Review of World Energy June 2014). Oil reserves worldwide are not in short supply, but the ability of some ...
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 ... barrels of proven oil reserves ...
Venezuela Passes Saudis to Hold World’s Biggest Oil Reserves
Bloomberg - 6/12/2012 11:56:35 PM
Venezuela surpassed Saudi Arabia to become the world’s largest holder of proven oil reserves, a resource that President Hugo Chavez promises to tap if he gets re-elected in October. The South American country’s deposits were at 296.5 billion barrels at ...
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 ...
Venezuela has World's Second Biggest Oil Reserves
energytribune.com - 6/10/2010 11:59:45 PM
Those countries now officially include Venezuela. BP has set at 56.6 per cent its estimate of the proportion of the world’s proved oil reserves that are located in the Middle East. That is down from 65.7 per cent in 1989. Despite the region’s ...
The Truth About The Worlds Oil Reserves: In Depth Look
Value Walk - 3/18/2012 11:58:22 PM
According to current estimates, more than 80% of the world’s proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to 65% of the OPEC total. OPEC Member Countries have made significant ...
World proven oil reserves at end 2006 edge down
Reuters - 6/12/2007 3:54:46 PM
He said global proved oil and natural gas reserves had been on an increasing ... which has alone generated almost half of the world's energy consumption growth over that period. Growth in industrialised countries has been relatively less energy intensive.
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 ...
Venezuela surpasses Saudi Arabia for world's biggest oil reserve
NDTV - 7/20/2011 8:35:37 AM
Vienna: Venezuela is now the country with the most proven crude oil reserves on the planet ... with regard to the capacity to exploit its oil Saudi Arabia continues to be the world's undisputed main producer with the ability to pump more than 8 million ...
FACTBOX-Oil reserves: declining - but how fast?
Reuters - 7/21/2010 9:42:14 AM
July 21 (Reuters) - A declaration by Venezuela last week that it hopes soon to overtake Saudi Arabia as the country with the biggest oil reserves has stoked debate on how much oil and gas the world really has left. OPEC said last week its proven crude oil ...