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
The Battle for Oil
Global Research - 9/17/2014 11:24:52 AM
Two-thirds of the world’s proven oil and natural gas reserves are in the Middle East (notably Saudi ... scuttling oil deals between Baghdad and Russia, France and other countries, and reshuffling world petroleum markets… A proposed $40 billion Iraqi ...
Hydrocarb Energy Announces Significant Increases in Oil and Gas Reserves
Market Watch - 9/17/2014 6:17:04 AM
HEADLINE2-- Company's PV-10 value doubled and proved reserves increased more than ... Company targeting major under-explored oil and gas projects in emerging, highly prospective regions of the world. With exploration concessions in Africa, production ...
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.
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 ...
In South China Sea, China Makes First Big Gas Discovery While Other Countries Look On
Think Progress - 9/17/2014 12:07:49 PM
On top of being a major shipping thoroughfare — as much as 50 percent of global oil tanker shipments pass through the sea — and fishing hub, the World Bank estimates that the South China Sea holds proven oil reserves ... from the country’s offshore ...
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 ...
Developing oil field Libra off Brazil will cost 80bn dollars said France's Total
MercoPress - 9/18/2014 6:23:02 AM
Brazil's biggest oil field, Libra, will cost 80 billion dollars to ... That offshore region, the main focus of investment by Petrobras, could vastly increase Brazil's proved reserves and turn the country into a major crude exporter. The pre-salt area ...
The Energy Collective - 9/15/2014 2:40:31 PM
Gary Hunt Gary is an Executive-in-Residence at Deloitte Investments with extensive experience in the energy & utility industries. More » Jesse Jenkins is a graduate student and researcher at MIT with expertise in energy technology, policy, and innovation ...
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 ...
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 ...
Top 5 Oil-Producing Countries In 2011
Investopedia - 3/22/2011 11:58:11 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 ... of proven oil reserves, or ...
How long will world's oil reserves last? 53 years, says BP
The Christian Science Monitor - 7/14/2014 6:04:05 PM
According to BP, drivers whose vehicles rely on burning oil have a little more than a half-century to find alternate sources of energy. Or walk. BP’s annual report on proved global oil reserves ... world by having a large majority of the planet’s ...
The Truth About The Worlds Oil Reserves: In Depth Look
Value Walk - 3/19/2012 12:37:09 PM
According to current estimates, more than 80% of the world’s proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to 65% of the OPEC total. OPEC Member Countries have made significant ...
Venezuela surpasses Saudi Arabia for world's biggest oil reserve
NDTV - 7/20/2011 8:35:37 AM
Vienna: Venezuela is now the country with the most proven crude oil reserves on the planet ... with regard to the capacity to exploit its oil Saudi Arabia continues to be the world's undisputed main producer with the ability to pump more than 8 million ...
Venezuela has World's Second Biggest Oil Reserves
energytribune.com - 6/10/2010 11:59:45 PM
Those countries now officially include Venezuela. BP has set at 56.6 per cent its estimate of the proportion of the world’s proved oil reserves that are located in the Middle East. That is down from 65.7 per cent in 1989. Despite the region’s ...