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
Millions of Barrels of Oil Are About to Vanish
Bloomberg - 5/22/2015 7:50:41 AM
Six years ago, the industry pushed the Securities and Exchange Commission to make it easier for companies to claim proved reserves ... Inc., the world’s top shale oil producer, more than 69 percent of its U.S. oil and liquids reserves have yet to be ...
Oil's whodunit: Why millions of barrels are about to vanish
Sydney Morning Herald - 5/22/2015 10:49:38 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 ...
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 ...
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.
OPEC countries need oil prices above $100/barrel to break in budgets: Experts
customstoday.com.pk - 5/22/2015 3:40:08 AM
DOHA: Energy expert Dr Mamdouh G Salameh says that, with the exception of Qatar and possibly Kuwait, most OPEC countries need oil prices above $100 a barrel to break even in their budgets. Here he puts the focus on Iran’s inflated oil reserves ...
The world's biggest oil exporter has quietly seized a market milestone from America
The Business Insider - 5/22/2015 3:04:21 AM
NEW YORK (Reuters) - As the United States raced over the past five years toward becoming a global petroleum powerhouse, the ... oil. To meet the surge at the peak of summer, Saudi Arabia, home to approximately 16 percent of all crude oil reserves, has ...
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 ...
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 ...
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.
India beefing up forex reserves: RBI
Times of India - 5/22/2015 7:46:30 PM
RBI governor Raghuram Rajan on Friday said that in recent times India has built up layers against volatile capital inflows by beefing up its foreign exchange reserves ... in oil prices and sluggish manufacturing exports. Rajan added that the World ...
The Oil-Export Ban Harms National Security
Wall Street Journal - 5/18/2015 11:54:38 PM
Those sanctions would have proved ... foreign oil in turn found a home in European countries, which then reduced their imports of Iranian oil to zero. The prospect of a nuclear agreement with Iran does not permit the U.S. to stand still. Once world ...
Higher Oil Prices Prop Up U.S. Shale
Energy and Capital - 5/22/2015 8:43:46 PM
92% of his country's budget comes from oil ... Petroplex] will reach 100 billion boe recoverable reserves at some point in time [and it] could possibly become the largest oil and gas discovery in the world." Now, maybe you think the CEO of Pioneer is ...
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 ...
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 ...