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 ...
Is the U.S. holding too much oil in reserve?
CNN Money - 10/24/2014 5:57:39 PM
Does America have too much oil in its reserves? Senator Ron Wyden of Oregon fired off a ... The U.S. has the largest emergency stockpile of oil in the world. And now that the country's oil production is booming, there's questions if America needs to ...
The South American Oil Country Tubular Goods (OCTG) Market is estimated to reach $6.6 billion by 2019 – New Report by MicroMarket Monitor
northforkvue.com - 10/24/2014 3:48:48 PM
The report, ‘Oil Country Tubular Goods (OCTG ... The demand for OCTG is driven by high exploration and production activities, growth in the proven shale reserves, and increasing investments from oil and gas operators. MicroMarket Monitor identifies ...
Rivals in Brazil Vote Both Pledge to Kickstart Oil Sector
Wall Street Journal - 10/24/2014 7:30:42 PM
“Countries that can offer predictable competitive terms ... Brazil has 13.2 billion barrels of proven oil reserves, 16th in the world, according to the U.S. Energy Information Administration, though some industry officials think the number could be ...
Oil -- America's True Economic Stimulus
The Patriot Post - 10/25/2014 2:25:53 AM
American workers and motorists got some badly needed relief last week when the price of oil plunged ... the world’s proven oil reserves.” Then he continued with his Malthusian nonsense: “Even if we drilled every square inch of this country right ...
Oil prices don’t dictate the value of oilfield service companies
bakken.com - 10/24/2014 10:22:30 PM
Sloan explains, “Today, many countries have proven oil and gas reserves, but they do not have the technology or experience necessary to tap into those reserves. International investors know American companies can provide the technology they need and the ...
Petrobras discovers new deep-water oil well in S.E. Brazil
Xinhua News Agency - 10/25/2014 2:54:31 AM
RIO DE JANEIRO, Oct. 24 (Xinhua) -- Brazilian state oil and gas giant Petrobras has discovered a new deep-water oil well in the country's southeast Espirito ... in an area with proven reserves of gas and natural-gas condensate, the firm said in a press ...
Venezuelans brace for slump in oil prices
The Advertiser-Tribune - 10/25/2014 5:39:09 AM
Now Venezuela is suddenly a lot less rich, and many fear those lines will just get longer. The country with the world's largest oil reserves was struggling to keep shelves filled even when crude was selling for $100 a barrel or more. Now prices for ...
New Market Research Report: Spain Oil & Gas Report Q4 2014
TMCnet.com - 10/24/2014 2:01:25 PM
Oil Market Outlook and Oil Products Outlook Based on our country coverage of over 99% of global oil ... Consumption, Capacity and Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (`000b/d); Proven ...
Australia Oil Find Could Ignite Drilling Boom Off Country's Northwest Coast
International Business Times - 10/20/2014 7:46:46 AM
The country needs new oil sources to replace its quickly diminishing reserves from existing fields, the Wall Street Journal noted. Australian oil production in 2013 dropped by 17 percent to 416,000 – a four-decade low – as conventional fields dried up ...
The Sell-Off In Oil & Gas Stocks Has Made Approach Resources Even More Attractive
Seeking Alpha - 10/14/2014 4:36:27 PM
Since then, Approach has fallen sharply, tracking the broader oil & gas sector. Approach is down nearly ... The pre-tax present value of Approach's proved reserves at the end of December 31, 2013 (which was used to calculate the ratio) was $1.1 billion.
100 million barrels pulled from Varg oil field
United Press International - 10/13/2014 1:10:02 PM
"Production is currently stable and is expected to last for several more years." Norway has more oil reserves than any other European country. Last year, it exported 1.19 million barrels per day worth of oil, with most of that headed to the British and ...
Facts and figures on Canadian oil and gas production and investment
Lethbridge Herald - 10/12/2014 4:24:30 PM
78 per cent, 2013 Percentage of Canadian energy production going to U.S.: 98 per cent Canada sits third in the world, behind Venezuela and Saudi Arabia, in proved oil reserves. Canada sits fifth in the world in production of natural gas.
Why Venezuela is so desperate, in 5 easy charts
CNBC - 10/17/2014 6:05:57 PM
Venezuela has the world's largest proven oil reserves—more than 297 billion barrels ... This chart shows that even as oil hit record prices, providing a windfall in revenue, the country managed to have a deficit of more than 17 percent of GDP in 2012.
Gough Whitlam, Australian prime minister who proved transformative, dies at 98
Tampa Bay Times - 10/25/2014 12:45:40 AM
Gough Whitlam, 98, whose 1972 election as Australia's prime minister ushered in some of the most sweeping policy and social reforms in the country's history before ... Nelson Bunker Hunt, 88, the down-home Texas oil tycoon who owned a thousand race horses ...