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 ...
Why Shell can’t quit the Arctic
Renew Economy - 5/25/2015 4:33:51 AM
The Chukshi Sea can supply the world’s oil needs for just two months But Shell ... it is essential to maintain its proved oil and gas reserves. That is what most of the value of the company is based on. In 2014 Shell produced 3.1 million barrels of ...
Dawn - 5/25/2015 1:42:03 AM
QATAR, the world’s largest exporter of liquefied natural gas and one of the smaller oil producing countries, has enjoyed significantly ... It possesses 5.5bn barrels of proven crude oil reserves which are 1.2pc of the total GCC reserves and almost ...
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.
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 ...
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 ...
ME oil and gas automation set to grow
MENAFN - 5/24/2015 8:09:47 AM
With 810 billion barrels in proven reserves (50 per ... growing markets in the world. MENA News Headlines May 24 2015 - Gulf states may 'resist output cuts' at Opec meet, Khaleej Times (MENAFN - Khaleej Times) Gulf oil producers, led by Saudi Arabia ...
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.
Germany’s Wintershall Interested in Occidental’s Libyan Oil Assets
Wall Street Journal - 5/21/2015 11:58:14 PM
Wintershall, the oil-and-gas unit of the world’s largest chemical company ... teaming up with the country’s state-run oil company to exploit Africa’s largest oil-and-gas reserves. But since last year, Libya’s oil industry has been crippled by ...
Walker, GOP: Lift the Ban on Federal Oil Exports
News Max - 5/24/2015 7:12:31 AM
New Jersey Governor Chris Christie, who has yet to formally declare, said exports would lead to "a more peaceful, more stable world when other countries are ... America's fossil-fuel reserves and curb dependency on foreign oil. But that was before the ...