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
UPDATE 2-China issues draft rules for strategic oil reserves
CNBC - 6/1/2016 6:01:12 AM
BEIJING, June 1 (Reuters) - China is planning changes to the way it handles oil reserves by allowing ... Beijing's goal is to stockpile reserves amounting to 90 days of net imports, which is the standard for SPRs in most western countries.
World Proved Oil Reserves, Fact Or Fiction
Seeking Alpha - 12/8/2014 3:38:22 PM
The EIA publishes annually a list of World ... reserves the country possesses. Even the U.S. has gotten in on the act, adding 11.5 billion barrels of proved reserves since 2009. They did not report U.S. 2014 reserves. Most of this increase is light tight ...
World Proved Oil Reserves Data A Work Of Fiction
Oil Price - 12/10/2014 12:41:13 AM
The EIA publishes Annually a list of World ... reserves 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 ...
30 countries with highest proven oil reserves
Rediff India Abroad - 3/1/2012 8:26:28 AM
We present here a list of countries with highest proven oil reserves ... 10 oil-producing nations in the world. 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 ...
The World’s Top 10 Oil Companies
24/7 Wall ST - 12/15/2014 10:50:54 AM
On the supply side, North American shale oil ... country’s governments. Company data were gathered from S&P Capital IQ. Reserves and production figures do not include natural gas or non-oil liquids. Here are the top 10 oil companies in the world based on ...
3 Reasons OPEC Still Matters For Oil And Global Markets
investing.com - 5/31/2016 8:35:42 PM
Fundamentally, the cartel still controls 81% of the world ... OPEC countries lack cash reserves and, in many cases, cannot keep up with unlimited oil production. Venezuela, for example, is a weak producer even though it sits on the largest proven crude ...
Iran seeks to amend post-sanctions oil contracts
France 24 - 5/31/2016 5:08:06 PM
The country has doubled oil exports since the nuclear accord took effect on January 16. A member of the Organization of the Petroleum Exporting Countries, Iran ranks second in the world in natural gas reserves and fourth in proven crude oil reserves.
Oil Change: Affluent Saudi Arabia Goes to Work
The Wall Street Journal - 5/31/2016 5:58:13 PM
But they are part of the same daunting challenge: dismantling the world ... the country’s royal family has expected a pliant population that follows its leadership. But the social compact is breaking down—and not just because of declining oil prices.
Venezuela Passes Saudis to Hold World’s Biggest Oil Reserves
Bloomberg - 6/14/2012 3:18:49 PM
Venezuela surpassed Saudi Arabia to become the world’s largest holder of proven oil reserves, a resource that President Hugo Chavez promises to tap if he gets re-elected in October. The South American country’s deposits were at 296.5 billion barrels at ...
The 15 Countries with the Largest Oil Reserves
INSIDER MONKEY - 12/15/2014 6:47:31 AM
Have you ever wondered which are the countries with the largest oil reserves in the ... With the Largest Gold Reserves in the World. In compiling the current countdown we used the latest available data on the proven oil reserves of each country.
Venezuela Energy Profile: Holds Some Of World’s Largest Oil And Natural Gas Proved Reserves – Analysis
Eurasia Review - 11/30/2015 4:45:55 AM
Venezuela is one of the world ... oil reserves are located in its Orinoco heavy oil belt, which has 220.5 billion barrels in proved oil reserves. Venezuela nationalized its oil industry in the 1970s, creating Petroleos de Venezuela S.A. (PDVSA), the ...
10 countries sitting on massive oceans of oil
The Business Insider - 7/21/2015 8:34:03 AM
The world ... amount of oil, the Islamic republic doesn't even make it into the top three when it comes to proven crude oil reserves. Using the data provided by Barclays commodities analyst Michael Cohen, we put together a list of the 10 countries sitting ...
Prepare For A Dramatic Decline In Oil Reserves
Forbes - 12/28/2015 1:31:04 PM
According to the 2015 BP Statistical Review of World Energy ... into the category of proved reserves. Venezuela provides a perfect case study. Venezuela has a huge heavy oil resource in the Orinoco region of the country. But this oil is very expensive ...
Mexico's proven oil reserves down a whopping 21 percent
PennEnergy - 4/1/2016 8:13:48 PM
MEXICO CITY (AP) — Mexico's government oil commission says the country's proven reserves of oil and gas dropped by a startling ... Mexico's state-owned oil company has been thrown into crisis by the drop in world oil prices. The drop in revenue and ...
American Oil Reserves Now Top Saudi Arabia
Breitbart News - 4/15/2014 11:54:12 PM
The U.S. Energy Information Agency (EIA) just reported that United States “proven reserves ... that control all oil development within a country. Unlike private companies, the World Energy Outlook 2010 warned that NOC “reserve” statements: often ...