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
Increasing Oil Reserves and Peak Oil
The Energy Collective - 10/22/2014 9:17:28 AM
Focusing only on the reservesis apt to give a wrong impression about the total availability of oil. The chart below shows the historic data from the 2014 edition of the BP Statistical Review of Global Energy (BP2014) for the World Proved Reserves and the ...
Oil prices slide as US crude reserves surge
Yahoo News - 10/22/2014 5:52:51 PM
London (AFP) - World ... on oil prices because they tend to indicate weakening demand. The DoE added that stocks of distillates, including heating fuel, rose one million barrels, confounding forecasts for a sharp drop of 1.5 million barrels. Reserves ...
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 ...
Russia Loses Oil Ally in De Margerie After Moscow Crash
Bloomberg - 10/21/2014 6:22:40 PM
Although other major oil companies have also worked to develop partnerships in Russia, which has the world’s largest proven oil and gas reserves, none has advocated ... Russia wasn’t the first controversial country that De Margerie, always on the ...
World Energy Day 2014: How Much Oil is Left and How Long Will it Last?
Yahoo News Canada - 10/22/2014 9:10:18 AM
Specifically, whether the world has exhausted its oil supply and what options we have for the future of energy. How much oil is left? In June, BP provided an intriguing update to its global oil reserves estimates ... barrels of proven oil reserve left ...
Falling Oil Prices Stretch Venezuela's Books to Limit
Naharnet - 10/22/2014 5:21:14 AM
Venezuela, which sits atop the world's largest proven crude reserves, relies on oil sales for 96 percent of its budget. The recent plunge in prices, which have hit a four-year low, is bad news for a government already running a deficit of 15 percent of ...
Global Research on Tight Oil Market - Industry Segment and Forecasts Up to 2019
Digital Journal - 10/21/2014 1:29:11 PM
Albany, NY -- (ReleaseWire) -- 10/21/2014 -- Wide number of applications, increasing energy demand, Depleting conventional oil and gas reserves ... in Rest of World (RoW). Major Tight oil producing Countries are the United States, Canada and Russia.
Oil falls below $86 as oversupply, global economy worries weigh
Reuters - 10/20/2014 9:58:37 PM
Energy economists have slashed forecasts of world oil demand growth for next year. It was also not clear whether the Organization of the Petroleum Exporting Countries will decide ... over who is in charge of oil reserves in Libya, where two competing ...
Indonesia to offer six oil, gas blocks by year's end
Platts - 10/22/2014 11:19:09 AM
The country pulled out of OPEC in 2008. Indonesia's proven reserves stand at 3.7 billion barrels of oil and 101.54 Tcf of gas. The country is estimated to contain 574 Tcf of potential shale gas, compared with 453.3 Tcf of coalbed methane potential and 334 ...
Putin: 'Global Economy Would Suffer If Oil Prices Remain At $80 Per Barrel'
The Business Insider - 10/17/2014 12:58:08 PM
Vladimir Putin said Friday that the global economy would collapse if the oil ... exchange reserves in an attempt to prop up the currency. Putin attempted to dismiss concerns surrounding the currency saying: Russia is among the world's leading countries ...
Major oil discovery in Paraguay
VOXXI - 10/20/2014 8:54:11 PM
SEE ALSO: Desert residents fear fracking dangers might outweigh the benefits “This discovery represents a significant milestone for both President Energy and for the country ... oil in the Chaco basin for decades. Paraguay, which has no proven oil ...
Oil discovery announced in Paraguay; gov't cautious
PennEnergy - 10/21/2014 3:16:34 PM
"This discovery represents a significant milestone for both President Energy and for the country of Paraguay ... have unsuccessfully searched for oil in the Chaco basin for decades. Paraguay, which has no proven oil reserves, consumes about 27,000 ...
Oil prices firm before weekly US inventories
Business Recorder - 10/22/2014 12:37:53 PM
LONDON: World oil prices firmed on Wednesday as traders eyed ... "The latest figures on China's oil demand have proved better than expected, which together with most of the US economic data being positive has eased concerns about demand.
The Economist online - 10/9/2014 6:01:07 PM
A CENTRAL bank that takes a visiting economist down to its vaults to prove that it does indeed have the reserves ... of insuring the country’s bonds against default has risen by 80% over the past two months—suggesting they are the world’s riskiest ...
New oil resources proved in the Grane area
euro-petrole.com - 10/21/2014 12:24:46 PM
Operator Statoil has together with PL169 partners proved new ... operations in 36 countries. Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs ...