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
Top 10 Oil Rich Countries
MILLIONAIRE CORNER - 7/27/2015 12:51:48 PM
One of the sanctions most powerful against Iran kept that oil-rich country from taking advantage ... This is the wild card in the world’s oil marketplace. With almost 300 billion barrels of crude in reserve, Venezuela gets 40 percent of government ...
ConocoPhillips 2Q Earnings: Lower Oil Prices To Significantly Eat Into Profits
Trefis - 7/28/2015 5:22:37 PM
ConocoPhillips is the world’s largest independent exploration and production company by proved reserves ... barrels of oil equivalent (BOE) at the end of 2014. Headquartered in Houston, Texas, the company has operations in 27 countries, generating ...
The Nuclear Deal is Mostly about Oil
Townhall Finance - 7/28/2015 4:25:21 PM
The U.S. Energy Information Administration (EIA) reports Iran’s proven oil reserves as the fourth largest in the world, at 158 billion barrels ... or the theocratic Muslim government that holds the country in its tight grip. The IMF estimates that ...
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 ...
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 ...
Oil down in Asia, hurt by Chinese factory slump
Times of India - 7/27/2015 4:33:42 PM
Oil prices fell further ... throwing a pall over growth in the world's second-largest economy. The Caixin Purchasing Manager's Index (PMI), which tracks activity in factories and workshops, is seen as a key barometer of the country's economic health.
Cameroon Ramping Up Oil Production As Prices Moving Down
Yahoo Finance - 7/28/2015 3:56:43 PM
For the first time since 2002, the West-Central African country has increased oil production to over 100,000 barrels a day – a 17 percent increase over 2014 levels. What's more, the World Bank predicts ... barrels of crude reserves for sale into a ...
Oil prices fall on oversupply worries; investors await US Fed meeting
Financial Express - 7/27/2015 5:45:17 PM
Investors are looking to the U.S. Federal Reserve for direction ... of continued abundant oil supplies, including an output increase from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries, led the National Australia ...
Top 10 oil and gas producing countries in 2012
Mining - 6/14/2013 10:46:25 PM
World oil production ... disposition of the 10 biggest oil producers. Another important indicator is the reserves-to-production (R/P) ratio which represents “burning rate” of proven oil reserves in-situ for any given country when applying current ...
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 ...
World commodities : Oil
Dawn - 7/27/2015 1:10:17 AM
The oil glut looks set to grow as an Iranian nuclear deal with the West is expected to release millions of barrels of additional supply onto world markets ... Increases occurred in both non-Opec and Opec countries. In the first quarter, non-Opec accounted ...
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 ...
Genie Energy's Afek Oil & Gas Completes Drilling Second Exploratory Well
ENERGY INDUSTRY TODAY - 7/28/2015 1:40:43 PM
The resources do not constitute proved, probable or possible reserves. "We remain optimistic by the results ... if there is a significant extractable resource. We stand behind our world-leading scientific team and are pleased that the preliminary results ...
Oil Prices Retreat As OPEC Output Soars
MENAFN - 7/28/2015 7:07:01 AM
From OPEC's perspective, its strategy of maintaining high production has proved to be successful since lower oil prices ... to what other countries have done. He pointed out the ... Jul 28 2015 - 'Kuwait One Of Top Countries In World Suffering From ...
Top 5 Oil-Producing Countries In 2011
Investopedia - 3/15/2011 11:59:20 PM
However, some have commented that current price rise may be an overreaction, since Libya produces only about 2% of the world's oil per day. While that is not an insignificant amount, other large oil producing countries ... barrels of proven oil reserves ...