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
Oil's whodunit: Why millions of barrels are about to vanish
Sydney Morning Herald - 5/22/2015 3:32:59 AM
High stakes: More than half of the proved reserves ... able to book all these new reserves. It gave the industry a whole new lease on life in terms of being able to attract capital." At EOG Resources, the world's top shale oil producer, more than 69 ...
Shale oil disappearing from US inventory
themalaymailonline.com - 5/22/2015 1:02:39 AM
Six years ago, the industry pushed the Securities and Exchange Commission to make it easier for companies to claim proved reserves ... the world’s top shale oil producer, more than 69 per cent of its US oil and liquids reserves have yet to be drilled ...
Nigeria - Oil Exports Will Decrease
Seeking Alpha - 5/19/2015 9:58:55 PM
However, one thing to note is that proven oil reserves are always subject to change - it is just dependent on how much investment the country is receiving. The United States, which receives more oil investment than almost any other country in the world ...
Low Oil Prices Pressuring Producing Countries
Think Advisor - 5/21/2015 5:21:32 AM
Saudi Arabia is burning through its foreign reserves. Saudi Arabia’s foreign reserves are down, thanks to lower oil sales, but that’s not the only reason. The country’s been spending ... investments elsewhere in the world. According to consultants ...
Iran plans to drill 5,000 meter well to expand oil exploration in Caspian Sea
customstoday.com.pk - 5/21/2015 4:52:54 AM
Iran has an estimated 157 billion barrels of proved crude oil reserves, representing nearly 10 percent of the world’s crude oil reserves and 13 percent of reserves held by the Organization of the Petroleum Exporting Countries.
Top 10 countries in the world by oil consumption
explorationworld.com - 5/21/2015 12:35:12 AM
Anyone reading this article probably already know that the world ... reserves, imports and exports are also from 2013. This means those may not be up-to-date, but rather reflect the relationship of those metrics to 2013's global oil consumption.
Obama Should Heed His Own Call For Oil Exploration
American Thinker - 5/19/2015 6:14:01 AM
Many people, perhaps including President Obama, don’t realize that there actually are two energy markets in this country ... economic oil reserve in the world off limits to development? There’s roughly 1.6 trillion barrels of known oil reserves ...
U.S. out-produces rest of world in oil and gas from shale
The Bakken Magazine - 5/20/2015 8:31:50 PM
The Institute for Energy Research in Washington, D.C., says that despite other countries having significant oil and gas reserves in tight shale plays, the U.S. is the only nation that has capitalized on the energy resources of it shale reserves.
Big Oil Dividend Stocks: Why Shell's $73 Billion Merger Could be Cheating Dividend Investors
The Motley Fool - 5/21/2015 9:06:26 PM
Why is Shell paying such an enormous premium during an oil ... countries that currently import LNG, and even without the merger it was set to become the largest LNG supplier to China. After the merger, Shell would operate 70 LNG carriers and be the world ...
Fossil fuels subsidised by $10m a minute, says IMF
theguardian.com - 5/18/2015 4:30:49 PM
The IMF, one of the world ... reserves of oil, gas and coal, which we know must be left in the ground if we are to avoid catastrophic, irreversible climate change.” Developing the international cooperation needed to tackle climate change has proved ...
US fracking expert slams 'desperate' Saudi oil policy
Arabian Business - 5/21/2015 2:39:53 PM
Is the country going to carry on depleting assets that took decades to amass, just to teach the world a lesson [that it will not give up its market share]?” State-run oil company Saudi Aramco also announced plans in January to invest $7 billion on top of ...
15 countries with biggest oil reserves
Rediff India Abroad - 10/17/2011 11:53:42 PM
countries with the most oil within their borders are set to benefit as demand for crude continues to rise. As of 2010, the US government estimates that the world has proved reserves in the neighbourhood of 1.35 trillion barrels; the net amount of oil ...
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 ...
Former Defense Officials: Ending U.S. Ban on Crude Oil Exports Would Increase Pressure on Iran
thetower.org - 5/21/2015 12:16:43 PM
Those sanctions would have proved hollow without the surge in domestic U.S. crude oil production that displaced imports. Much of that foreign oil in turn found a home in European countries, which then reduced their imports of Iranian oil to zero.
Azerbaijan to see decline in oil supply, OPEC says
topix.com - 5/22/2015 5:34:40 AM
... the former Soviet Union with proven crude oil reserves estimated at 7 billion barrels, will see a decline in oil supply 2015. In its May report OPEC said the decrease will amount to 30,000 barrels per day and stand at average 0.82 million bpd in 2015.