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
Venezuelan president resolved to return oil to $100 a barrel
RT - 11/28/2014 5:27:28 AM
The continued price plunge is negatively affecting vast social programs run by the owner of the world’s largest proven oil reserves ... its lowest price in four years. For countries like Venezuela or Iran, the sharp drop oil prices means they will ...
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 ...
Oil Plunge Ripples Through Latin America as Projects Slow
Bloomberg - 11/28/2014 6:34:52 PM
The intention of the Saudi-led Organization of Petroleum Exporting Countries decision seeks to “slow ... Latin America accounts for about 20 percent of the world’s proved oil reserves, according to BP Plc’s Statistical Review of World Energy.
Global Enhanced Oil Recovery (EOR) Industry Outlook to 2018 - EOR Applications in Mature Oil Reserves to Drive the Industry Growth
Yahoo Finance - 11/27/2014 8:23:26 PM
The report titled 'Global EOR Industry Outlook to 2018 – EOR Applications in Mature Oil Reserves to Drive the Industry Growth' provides a comprehensive analysis of the EOR industry in the world covering ... oil production from proved oil reserves and ...
The 17 Countries Sitting On The Most Valuable Energy Reserves
The Business Insider - 2/13/2014 11:51:58 AM
Saudi Arabia has nearly one fifth of the world’s proven oil reserves, in addition to being the largest producer and exporter of petroleum. Its largest oil field, the giant Ghawar field, has more proven oil reserves than all but seven countries.
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 ...
30 countries with highest proven oil reserves
Rediff India Abroad - 3/1/2012 2:57:12 AM
And proven oil reserves are those that claim to have a reasonable ... 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 ...
Do Countries With The Most Oil Reserves Actually Produce The Most Oil?
Investopedia - 9/23/2014 11:56:32 PM
This natural resource is the “golden egg” and those countries that have it should be the world's wealthiest ... into selling the oil. The countries that have the highest oil reserves (which means they have found proven sources of oil in the ...
Venezuela’s president claims to fight for restoring fair oil price
en.itar-tass.com - 11/28/2014 2:49:59 AM
ranking the country fifth among the world’s oil exporters. Besides, the South American country has the highest proven oil reserves, estimated at nearly 300 billion barrels. Most of oil reserves in the country’s Orinoko Belt is heavy and ultraheavy.
Here's How Low Oil Prices Put The World Economy At Risk In The Longer Term
businessinsider.in - 11/28/2014 9:12:21 PM
This week's plunging prices come after OPEC agreed not to cut oil production ... In the past year the country's inflation rate has grown to about 64%, its export basket has fallen over $30 to $68.97 (a four-year low), and currency reserves are at an ...
Price wars and power-play over oil supply
Al JAZEERA - 11/28/2014 7:14:50 AM
... Countries, known as OPEC, account for around 80 per cent of the world's crude oil reserves and about a third of global production. But who is setting the agenda? And is politics having an impact on production? Is the cartel's influence on the wane?
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 ...
Top 10 oil and gas producing countries in 2012
Mining - 6/14/2013 10:46:25 PM
World ... by oil reserves. Iraq (132 years) and Iran (126 years) hold the second and third places, respectively. The US, China and Mexico are the most “unthrifty” countries with only about 11 years before they exhaust their current proved oil reserves ...
What Can Norway Teach Other Oil-Rich Countries?
Radio Free Europe - 11/27/2014 9:53:30 AM
Even in Norway, the world's fourth-richest country ... Norway's oil fields has been declining since 2000, even with the discovery of a massive new field in 2011. Loeren says the oil could run out in another 50 years but that natural-gas reserves should ...
Azerbaijani expert on West's attitude to Azerbaijan, Iran's n-program, oil prices
Zawya - 11/28/2014 7:50:38 AM
In addition, the OPEC member-countries account for almost 81 percent of all proven reserves of crude oil in the world. The combined share of Russia, Kazakhstan and Azerbaijan in world oil production is only just over 18 percent. That is not taking into ...