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
Canada's Fading Oil Promise Leaves U.S. Majors Struggling
Bloomberg - 2/23/2017 7:35:33 PM
Oil-sands investments in Western Canada that gobbled tens of billions of dollars over the past decade are proving an Achilles heel for some of the world’s biggest energy producers. Exxon Mobil Corp. slashed proved reserves the most in its modern history ...
4.7 Billion Barrels Just Evaporated In This World Class Oil Play
Oil Price - 2/24/2017 9:33:04 AM
It’s reserves reporting season in the oil and gas business. And one of the world’s biggest plays saw some major casualties ... Cenovus Energy, for example, said its proved reserves rose 5 percent in 2016 — with that company subject to less-strict ...
Exxon revises down oil and gas reserves by 3.3 billion barrels
Times of India - 2/23/2017 4:40:46 AM
CALGARY, Alberta, Feb 22 (Reuters) - U.S. oil major ... rebooked as proved reserves if these levels hold. (Reporting by Nia Williams; Editing by David Gregorio) Anant Ambani sheds 108 kilos, stuns family and friends The Indira Gandhi the world will never ...
Exxon bows to oil crash with historic global reserves cut
worldoil.com - 2/23/2017 2:49:13 PM
Under SEC rules, proved reserves can only include oil and gas fields that can be produced economically within the next half decade. Price trends from the previous 12 months are compared against the estimated cost to harvest crude and gas in determining ...
Exxon cuts 3 bn barrels from oil reserves
The Oak Ridge Observer - 2/24/2017 7:34:22 PM
The oil sands have some of the highest full-cycle breakeven costs in the world, with new thermal projects needing ... The resource base includes proved reserves, plus other discovered resources that are expected to be ultimately recovered.
ExxonMobil announces 2016 reserves
automotiveworld.com - 2/23/2017 9:55:44 AM
Exxon Mobil Corporation (NYSE:XOM) announced today proved reserves were 20 billion oil-equivalent barrels at year-end 2016 ... Liquids account for 53 percent of proved reserves. *Automotive World is not responsible for the content of this news release.
Table 1 : world proved oil reserves by country as of
www.coursehero.com - 12/31/2005 11:57:47 PM
This is the end of the preview. Sign up to access the rest of the document. Unformatted text preview: Table 1 : World Proved Oil Reserves by Country as of January 1, 2006 (billion barrels) Country Oil Reserves Saudi Arabia 264.3 Canada 178.8 Iran 132.5 ...
Oil prices in the black on declining reserves and stockpiles
United Press International - 2/23/2017 9:19:57 AM
Prices soared early in the week after the head of the Organization of Petroleum Exporting Countries said support for efforts ... that it removed about 3 billion barrels of oil equivalent from its proved reserves. The price for Brent crude oil, the global ...
Exxon Cuts Reserves By A Record 3.3 Bilion Barrels As Oil Crash Finally Takes Toll
fromthetrenchesworldreport.com - 2/23/2017 1:09:00 PM
The complaint was simple: out of the 40 biggest publicly traded oil companies in the world, Exxon – then still led by ... In a press release filed after the close, Exxon announced that “proved reserves were 20 billion oil-equivalent barrels at year ...
Iran discovers 2 billion barrel shale oil reserves
conceptnewscentral.com - 2/20/2017 3:32:45 AM
Proved oil reserves in Iran rank the fourth largest in the world at approximately 160 billion barrels ... Tasnim also reported that the country had previously announced new shale oil discoveries in the provinces of Kerman and Semnan.
Why the Canadian oilsands caused a bigger hit to exporters than other petroleum projects
National Post - 2/23/2017 11:28:48 AM
The world’s largest oil explorer by market value held out hope that the de-booked barrels will one day be restored to the proved reserves category. Higher energy prices or lower expenses to produce oil could improve the outlook for developing those ...
World Proved Oil Reserves, Fact Or Fiction
Seeking Alpha - 12/8/2014 3:38:22 PM
The EIA publishes annually a list of World ... reserves the country possesses. Even the U.S. has gotten in on the act, adding 11.5 billion barrels of proved reserves since 2009. They did not report U.S. 2014 reserves. Most of this increase is light tight ...
Venezuela's Oil Reserves Are Probably Vastly Overstated
Forbes - 7/1/2016 12:35:07 PM
By 2010 the country’s proved reserves reached 297 billion barrels, leaping over Saudi Arabia to become the country with the world’s largest crude oil reserves. Was this massive increase in its proved reserves a result of huge new oil discoveries in ...
ConocoPhillips revises down oil sands reserves by a billion-plus barrels underscoring region’s price vulnerability
Financial Post - 2/22/2017 12:27:15 PM
The oil sands have some of the highest full-cycle breakeven costs in the world ... debooked undeveloped reserves at Surmont, according to SEC filings. But Cenovus, which reports to Canadian securities authorities, said its total proved reserves including ...