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
American Oil Reserves Now Top Saudi Arabia
Breitbart News - 4/15/2014 11:54:12 PM
But the U.S. must conservatively report “Proven Reserves” as the sum of the ... that are state-owned monopolies that control all oil development within a country. Unlike private companies, the World Energy Outlook 2010 warned that NOC “reserve ...
Mexico's proven oil and gas reserves fall 3 pct in 2013
Thomson Reuters - 4/14/2014 11:09:27 AM
Mexico, the world's tenth-biggest crude producer, has not been able to discover and certify new oil and gas fields as fast ... led to a precipitous decline in the country's reserve base. Mexico boasted proven reserves of about 55 billion boe in 1990 ...
U.S. Proved Crude Reserves Reach 36-Year High on Shale Oil (2)
Businessweek - 4/9/2014 11:54:09 PM
“If prices go up, proved reserves can actually increase. With higher prices, you can keep drilling and still make a lot of money.” Oil reserves in the U.S. are still dwarfed by Venezuela, which held the most in the world with 297.6 billion barrels as ...
Venezuela home to world's largest oil reserves
MENAFN - 4/14/2014 11:55:23 PM
(MENAFN) With proven crude oil reserves amount of 298.35 billion barrels, Venezuela is considered the world's largest country with oil reserves, Xinhua reported. The Venezuelan Oil and Mining Ministry said that the country was adding 1.673 billion barrels ...
Venezuela has world's largest oil reserves
The Global Times - 4/15/2014 3:15:49 AM
The Venezuelan Oil and Mining Ministry announced Monday its proven crude oil reserves amount to 298.35 billion barrels, meaning Venezuela is home to the world's largest oil reserves. The ministry said it was adding 1.673 billion barrels to its inventory ...
Venezuela Has The World’s Largest Crude Oil Reserves
Live Trading News - 4/15/2014 10:56:56 PM
The Venezuelan Oil and Mining Ministry announced Monday its proven Crude Oil reserves amount to 298.35-B bbls, meaning Venezuela is home to the world’s largest Crude Oil reserves. The ministry said it was adding 1.673-B bbls to its inventory from ...
US crude reserves turn bountiful
Gulf News - 4/13/2014 7:35:53 AM
The two states at the heart of the fracking revolution accounted for more than 90 per cent of all reserve growth across the country. Texas now accounts for 11.1 billion barrels of proved oil and condensate reserves, with North Dakota at 3.8 billion barrels.
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 ...
U.S. Crude Reserves Hit Highest Levels in nearly 40 Years
Oil Price - 4/14/2014 12:53:50 AM
New data from the Energy Information Administration shows that crude reserves in the U.S. hit their highest levels since 1976. The EIA released a report on April 10, entitled “U.S. Crude Oil and Natural Gas Proved Reserves (2012),” which indicated that ...
Nigeria’s oil industry after GDP rebasing
Businessday - 4/19/2014 3:25:23 AM
Current exploration activities are mostly focused in the deep and ultra-deep offshore with some activities in the Chad basin, located in the northeast of the country. Nigeria hopes to increase proven oil reserves to 40 billion barrels in the next few years ...
30 countries with highest proven oil reserves
Rediff India Abroad - 3/1/2012 2:57:12 AM
Oil and gas have made Qatar one of the highest per-capita income countries, and one of the world's fastest growing. Qatar's proved reserves of natural gas are nearly 26 trillion cubic metres, about 14% of the world total and the third largest in the world.
Mexico Is Fed Up With Being Overshadowed by the United States Oil Boom, but Won't Do Enough to Change It
The Motley Fool - 4/13/2014 1:05:10 PM
... proved reserves and make about 4 billion barrels of oil equivalent in proved and probable reserves available for foreign investment. Not exactly the most generous of offers for a country that wants to nearly triple capital expenditures. What a Fool ...
Oil Shale Reserves
The Daily Reckoning - 4/17/2014 3:23:35 PM
In the small world ... oil usage. That’s barely a band-aid for a country that faces a potential energy heart attack. In other words, the future of oil shale may have finally arrived. Extracting oil from shale is no simple task, which is why the reserves ...
Top 5 Oil-Producing Countries In 2011
Investopedia - 3/22/2011 11:58:11 PM
Here are the top five oil-producing countries from 2010 ... Saudi Arabia has the world's largest proven reserves of oil, with approximately 265 billion barrels, or about 20% of the world's proved oil reserves. This allows Saudi Arabia to increase and ...