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
Diversity fueling UAE growth in face of fluctuating oil
Emirates247 - 10/3/2015 7:42:05 AM
The GCC’s economy has been built on oil with 30 per cent of the world’s proven oil reserves in these countries, producing 28.6 million barrels per day in 2014. Coface released a report titled ‘Gulf Countries: Various Reactions to the Same Shock ...
Russia: Has the World's Biggest Country Turned Against the Environment?
Truth Out - 10/4/2015 4:20:28 AM
Huge hydropower dams were built electrifying the country, making Russia a global powerhouse. However, Russia then "discovered this huge amount of oil in the ... similar UNESCO world heritage sites, 40 national parks and 100 wildlife reserves.
OPEC: Proven crude oil reserves in Member Countries reached 1,206 bn barrels by end of 2014.
wam.ae - 9/26/2015 1:38:09 AM
OPEC Member Countries petroleum products exports in 2014 stood at 4.5m b/d, while during the same year the imports were at 1.6m b/d, up 1.4 per cent year-on-year. World proven crude oil reserves stood at 1,492.9 billion barrels at the end of 2014 ...
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 ...
World Proved Oil Reserves Data A Work Of Fiction
Oil Price - 12/9/2014 11:08:10 PM
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 ...
New Zealand’s New Marine Reserve Is Twice as Big as the Country Itself
Yahoo News - 10/3/2015 10:01:05 PM
The move expands the country’s old marine reserves 35 times—and puts the world’s largest system of underwater volcanoes and the world’s second-deepest trench under full protection. That means no fishing, mining, oil exploration, or any other ...
Venezuela Oil Price Continues Slipping
Latin American Herald Tribune - 10/4/2015 2:11:37 AM
Oil is the main export of Venezuela and provides most of the country's foreign currency ... Venezuela had nearly 298 billion barrels of proved oil reserves, the largest in the world. The next largest proved oil reserves are in Saudi Arabia with 266 ...
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 ...
10 Huge Countries Without Their Own Oil
24/7 Wall ST - 12/29/2014 7:28:11 AM
The world’s 1.635 trillion barrels of proved oil reserves are not evenly distributed among the globe’s 216 nations. Just three — Saudi Arabia, Venezuela and Canada — account for nearly a third of the total. There are far more countries with no or ...
Top 5 Oil-Producing Countries In 2011
Investopedia - 3/15/2011 11:59:20 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 ...
What fall in oil prices? Omani energy company redevelops luxury community
The National - 10/3/2015 11:31:09 AM
Redeveloping Ras Al Hamra also appears counter intuitive considering the country’s current production levels, Oman is thought to have only about 15 years of proven oil reserves left ... oil transit channel in the world. The country could even become ...
Low Oil Prices – Why Worry?
Counter Currents - 10/2/2015 5:01:37 PM
World Oil Supply (production including biofuels ... Saudi Arabia and a number of the other OPEC countries have published “proven reserve” numbers that are widely believed to be inflated. Even if the reserves represent a reasonable outlook for very ...
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 ... Worldwide oil reserves are published by the U.S. Energy Information Administration (EIA) each year. The 12 member Organization of Petroleum Exporting Countries ...
U.S. oil reserves highest since 1970s
Marine Link - 4/11/2014 11:20:10 AM
The two states at the heart of the fracking revolution accounted for more than 90 percent of all reserve growth across the country. Texas now accounts for 11.1 billion barrels of proved oil and condensate reserves ... of the bottle: world oil since ...
Despite Shell's About-Face, Interest In Arctic Oil Grows
econintersect.com - 10/4/2015 1:28:40 AM
But industry efforts to drill for oil and natural gas in the Arctic are unlikely to end with Shell's decision to abandon the Chukchi Sea. Indeed, momentum to exploit fossil fuel reserves in the ... undiscovered oil in the world! To date, only half of ...