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 With The World’s Biggest Oil Reserves
gulfbusiness.com - 4/13/2013 11:59:57 PM
Brent crude oil spot price is expected to fall from an average of $112 per barrel in 2012 to annual averages of $108 per barrel in 2013 and $101 per barrel in 2014, according to report released by US-based Energy Information Administration (EIA) last week.
30 countries with highest proven oil reserves
Rediff - 3/1/2012 2:57:12 AM
In 2010, oil was the largest import commodity in the US. Altogether, the government owns 28.8 per cent of the country's land area. Most of this is protected, though some is leased for oil and gas drilling, mining, Net imports of oil and products account ...
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 ...
World proven oil reserves at end 2006 edge down
Reuters - 6/12/2007 3:54:46 PM
"We have rolled over the 2005 reserves figures for many countries due to reporting lags," he said, adding that this meant there might ultimately not be a decline for 2006. He said global proved oil and natural gas reserves had been on an ...
Nations with the world's largest oil reserves
Rediff - 1/28/2011 8:18:53 AM
China is the second-largest ... of oil, natural gas, coal, and electricity. A top supplier to the United States, Canada consumes 2.3 million barrels per day. The country's total production stands at 3.35 million barrels per day. It has total proven ...
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 ...
Top 10 oil and gas producing countries in 2012
mining.com - 6/14/2013 10:46:25 PM
World oil production rose about 2.5% last year ... with 395 million tonnes of oil produced last year. Eight out of 10 countries increased their oil output and only two — Iran and Mexico — fell. The US is the leader in terms of oil production growth ...
BP Says World's Proved Oil Reserves Fell in 2008
OilVoice - 6/9/2009 11:57:09 PM
In a climate of unprecedented turbulence, global energy markets followed the same extreme ... The Review reports remaining proved oil reserves of 1,258 billion barrels, excluding Canadian oil sands - enough for 42 years at 2008 production rates.
Mexican Senate approves oil reform
US News and World Report - 12/11/2013 4:56:56 PM
MEXICO CITY (AP) — Mexico's Senate on Wednesday ... which have also targeted education, the tax system and telecommunications. But energy reform is considered most crucial to the overall economy and the remaining five years of Pena Nieto's ...
Gulf’s global oil share sharply down in 20 years
emirates247.com - 10/24/2013 4:03:30 AM
Gulf countries now control around 42 per cent of the world’s total proven oil resources, sharply below their share of nearly 63 per cent 20 years ago. The decline was mainly due to a steep rise in the crude reserves of Canada and Venezuela although there ...
Oil Reforms by Mexico May Upend Markets
New York Times - 8/15/2013 12:18:43 AM
Mexico ranks ninth among the world’s leading oil producers and ... Mr. Goldwyn said an increase in Mexican oil production could drain foreign oil company investment from countries like Angola, Venezuela and Nigeria as well as the new Arctic ...
Venezuela World’s Largest Holder of Proven Oil Reserves
Venezuelanalysis.com - 6/19/2012 2:01:18 PM
Saudi Arabia now trails Venezuela with a 16 percent share of world proven oil reserves, according to the report. Canada ranks third with 175.2 billion barrels, or 11 percent of total, unchanged from the revised number for 2010.w The South American country ...
In Lebanon, officials talk of a bright future funded by offshore oil and gas reserves
articles.washingtonpost.com - 6/1/2013 11:59:06 PM
The amount of oil in Lebanon would be comparable to the proven reserves of Ghana ... the highest in the Arab world. Additional oil and gas revenue would go into a sovereign wealth fund, as dictated by the country’s Offshore Petroleum Resources Law ...
Global oil reserves and fossil fuel consumption
theguardian.com - 9/1/2009 11:57:45 PM
The world is showing no sign of weaning itself off fossil fuels: in the 28-year span covered by the BP data below, worldwide reserves of oil fell only twice – in 1998 and 2008 You may think that with pressing concerns over peak oil and global warming ...