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 Deal Would Boost Oilfield Services
Barron's - 7/1/2015 11:59:43 PM
Iran holds the world’s fourth-largest proved crude-oil reserves -- 158 billion barrels -- and the world ... of a series of sanctions in late 2011 and mid-2012 that targeted the country’s oil sector, a number of foreign companies cancelled new and ...
OPEC battles to regain crude oil revenue
The Guardian - Nigeria - 7/1/2015 12:51:01 AM
Proven crude oil reserves in OPEC Member Countries remained largely unchanged at the end of 2014, as compared to 2013 and reached a level of 1,206bn b. The overall OPEC percentage share of world proven crude oil reserved at the end of 2014 stood at 80.8 ...
Mexico's Proven And Probable Oil Reserves Dip 7% In 2014
Rigzone - 6/30/2015 9:23:25 PM
... Mexican oil and gas reserves fell last year as state-owned oil company Pemex was unable to certify enough new discoveries to compensate for current production, the country's oil regulator CNH said on Tuesday. Mexico's total proven and probable (2P ...
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 ...
How Much Oil Does the World Have Left?
Forbes - 6/25/2015 1:36:54 PM
The 1P estimate is an estimate of proven reserves, what is likely to be extracted from a well, 90% probability. Probable reserves are given 50% certainty (2P) and possible reserves a 10% certainty (3P). Not only has the world’s oil supply failed to ...
Oil and Gasoline Fast Facts
ABC7 - 7/3/2015 2:43:10 AM
Members of the Organization of the Petroleum Exporting Countries (OPEC) produce about 40% of the world's crude oil, and possess almost 73% of the world's total proven crude oil reserves, according to OPEC and U.S. Energy Information Administration data.
World Proved Oil Reserves Data A Work Of Fiction
Oil Price - 12/9/2014 11:08:10 PM
The EIA publishes Annually a list of World ... the country possesses. Even the US has gotten in on the act, adding 11.5 billion barrels of proved reserves since 2009. They did not report US 2014 reserves. Most of this increase is light tight oil reserves ...
Venezuela’s Biggest Oil Refinery Confronts Challenges
Wall Street Journal - 7/1/2015 11:59:43 PM
An oil bonanza supported the country’s Socialist government for more than ... In Venezuela’s refining capital, it wasn’t a surprise the country with the world’s largest proven crude reserves was forced to buy fuel from its sworn ideological foe.
Irish Oil Company Says It Found Gas in Its First Well Drilled in Morocco
moroccoworldnews.com - 7/1/2015 11:35:15 AM
... and Cairn have arrived in Morocco to explore the country’s offshore gas & oil potential reserves. Circle Oil, which runs gas & oil exploration operations in Morocco, Tunisia, Oman and Egypt, has a 75 per cent interest in the Lalla Mimouna permit.
Oil Minister to Lead Delegation on Energy Dialogue with Canada
NDTV - 7/3/2015 6:06:35 PM
Canada is a mineral resource rich country. According to estimates, Canada has third largest oil reserves in the world and has substantial natural gas reserves. State-owned Indian Oil Corporation (IOC) has invested in an LNG project in Canada.
Oil gets new cap – US Frackers add drilling rigs, profitable under $60
biznews.com - 7/3/2015 8:08:17 PM
(Bloomberg) — For the first time in almost seven months, America’s shale drillers put rigs in oil fields back to ... of Petroleum Exporting Countries. The 12-nation group, which accounts for more than a third of the world’s crude supply, has resisted ...
Oil Minister Dharmendra Pradhan to lead delegation on energy dialogue with Canada
Economic Times - 7/3/2015 6:35:13 PM
Canada is a mineral resource rich country. According to estimates Canada has third largest oil reserves in the world and has substantial natural gas reserves. State-owned Indian Oil Corporation ( IOC) has invested in a LNG project in Canada.
10 Huge Countries Without Their Own Oil
24/7 Wall ST - 12/29/2014 7:28:11 AM
The world’s 1.635 trillion barrels of proved oil reserves are not evenly distributed among the globe’s 216 nations. Just three — Saudi Arabia, Venezuela and Canada — account for nearly a third of the total. There are far more countries with no or ...
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 ...
Gulf nations must look beyond oil
Financial Express - 7/3/2015 8:01:07 PM
as well as projects related to the World Cup. Statements by the ministry illustrate that if oil prices fall below the budgeted price of $65 per barrel, the country will use its strong financial position and reserves to uphold its commitment to all budgeted ...