Map of countries with proven oil reserves - according to U.S. EIA (start of 2017)
Trends in proven oil reserves in top five countries, 1980–2013 (data from US Energy Information Administration)
A map of world oil reserves according to OPEC, January 2014

Proven oil 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.

Some statistics on this page are disputed and controversial—different sources (OPEC, CIA World Factbook, oil companies) give different figures. Some of the differences reflect different types of oil included. Different estimates may or may not include oil shale, mined oil sands or natural gas liquids.

Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to be economically viable. Similarly, Venezuela's proven reserves jumped in the late 2000s when the heavy oil of the Orinoco Belt was judged economic.

Sources

Sources sometimes differ on the volume of proven oil reserves. The differences sometimes result from different classes of oil included, and sometimes result from different definitions of proven. [The data below does not seem to include shale oil and other "unconventional" sources of oil such as tar sands. For instance, North America has over 3 trillion barrels of shale oil reserves,[citation needed] and the majority of oil produced in the USA is from shale, leading to the paradoxical data below that the USA will finish all its oil at current production in 11 years, because the production is mostly from shale but the reserves cited omit all shale reserves.]

Comparison of proven oil reserves from some widely used sources (billions of barrels, as of 31 Dec 2014)

Source Canada Iran Iraq Russia Saudi Arabia United States Venezuela
BP[1] 172.9 157.8 143 103.2 267.0 48.5 298.3
OPEC[2] 4.2 157.5 147.2 80.0 266.6 36.5 300.0
US CIA[3] 171.0 157.8 147 103.2 268.3 36.5 298.4
US EIA[4] 172.5 157.8 145 80.0 268.3 39.9 298.4

Countries

Reserves amounts are listed in millions of barrels.

Proven reserves (millions of barrels)
Country US EIA
[5]
OPEC
[6]
BP
[7]
Others Oil production
2021 (bbl/day)[8]
Years of
production
in reserve
 Venezuela *(OPEC) 304,000.00 302,809 300,900 700,000 1,000
 Saudi Arabia *(OPEC) 259,000.00 266,260 266,000 10,846,000 65.4
 Iran *(OPEC) 209,000.00 [9] 208,600 155,600 3,511,000 163
 Canada * 170,000.00 4,421 172,200 [10] 171,000 5,663,000 82
 Iraq *(OPEC) 145,000.00 147,223 143,100 4,188,000 94.8
 Kuwait *(OPEC) 102,000.00 104,000 104,000 2,715,000 103
 United Arab Emirates *(OPEC) 98,000.00 111,000 111,000 3,638,000 74
 Russia * 80,000.00 80,000 102,400 9,990,000 20
 Libya *(OPEC) 48,000.00 74,363 78,400 1,224,000 110
 United States * 44,000.00 32,773 55,000 [11] 43,629 11,315,000 6.3
 Nigeria *(OPEC) 37,000.00 37,453 37,100 1,684,000 60
 Kazakhstan * 30,000.00 30,000 30,000 1,849,000 40
 China * 26,000.00 25,627 18,500 4,341,000 16
 Qatar * 25,000.00 25,244 25,244 1,808,000 38
 Brazil * 13,000.00 12,634 13,000 [11] 16,848 3,054,000 12
 Algeria *(OPEC) 12,000.00 12,200 12,200 1,363,000 24
 Guyana * .00 11,000[12] 117,000 200
 Namibia * .00 11,000[13] [14]
 Ecuador 8,300.00 8,273 8,000 475,000 48
 Norway * 8,100.00 6,376 8,000 2,056,000 11
 Angola *(OPEC) 7,800.00 8,384 12,700 1,162,000 18
 Azerbaijan * 7,000.00 7,000 7,000 709,000 30
 Suriname 06,500[15] 14,000 1,300
 Mexico * 5,800.00 6,537 10,800 [16] 9.700 1,972,000 8.1
 Oman * 5,400.00 5,373 5,300 980,000 15
 India * 4,600.00 4,495 5,680 [11] 4,409 886,000 14
 Vietnam * 4,400.00 4,400 4,000 203,000 59
 South Sudan 3,800.00 153,000 68
 Malaysia * 3,600.00 3,600 3,600 [11] 5,542 517,000 19
 Egypt * 3,300.00 4,400 3,500 592,000 15
 Yemen * 3,000.00 3,000 59,000 100
 Congo(OPEC) 2,900.00 1,600 275,000 29
 United Kingdom * 2,500.00 2,069 2,800 2,618 928,000 7.4
 Syria * 2,500.00 2,500 2,500 42,000 160
 Uganda * 2,500.00
 Argentina * 2,500.00 2,162 2,400 2,330 701,000 9.8
 Indonesia * 2,500.00 3,310 3,600 [11] 3,497 858,000 8.0
 Australia * 2,400.00 3,985 4,000 4,002 253,000 26
 Colombia * 2,000.00 1,665 2,300 768,000 7
 Gabon *(OPEC) 2,000.00 2,000 2,000 181,000 30
 Chad * 1,500.00 1,500 96,000 43
 Sudan * 1,300.00 5,000 1,500 63,000 56
 Brunei * 1,100.00 1,100 1,100 93,000 32
 Equatorial Guinea *(OPEC) 1,100.00 1,100 144,000 21
 Peru * 900.00 1,400 [11] 1,489 126,000 20
 Kenya * .00 750
 Ghana * 700.00 160,000 10
 Romania * 600.00 600 84,000 20
 Turkmenistan * 600.00 600 600 224,000 7
 Uzbekistan * 600.00 594 600 37,000 40
 Pakistan * 500.00 [11] 236 105,000 10
 Italy * 500.00 600 [11] 595 146,000 9
 Denmark * 400.00 439 600 [11] 550 71,000 20
 Tunisia * 400.00 400 37,000 30
 Ukraine * 400.00 395 62,000 20
 Turkey * 400.00 [11] 284 84,000 10
 Thailand * 300.00 400 461,000 2
 Trinidad and Tobago * 200.00 700 [11] 830 82,000 7
 Bolivia * 200.00 [11] 210 65,000 8
 Cameroon * 200.00 68,000 8
 Belarus * 200.00 198 34,000 20
 Bahrain * 200.00 189,000 3
 DR Congo 200.00 21,000 30
 Papua New Guinea * 200.00 [11] 158 37,000 10
 Albania * 200.00 16,000 30
 Chile * 200.00 16,000 30
 Niger * 200.00 13,000 40
 Spain * 200.00 77,000 7
 Myanmar * 100.00 8,200 30
 Philippines 100.00 15,000 20
 Netherlands 100.00 [11] 141 74,000 4
 Cuba * 100.00 [11] 124 37,000 7
 Germany * 100.00 [11] 229 116,000 2
 Poland * 100.00 [11] 151 37,000 7
 Ivory Coast * 100.00 29,000 9
 Somalia * .00 111,000[17]
 Guatemala 860 12,000 20
 Serbia * 770 17,000 12
 Croatia * 710 16,000 12
 France * 610 61,000 2.7
 Japan * 440 104,000 1.2
 New Zealand * 400 21,000 5
 Kyrgyzstan * 400 700 200
 Austria * 350 25,000 3.8
 Georgia * 350 300 300
 Bangladesh * 280 13,000 5.9
 Mauritania * 200
 Bulgaria * 150 6,100 6.7
 Czech Republic * 150 15.0 10,000 4
 South Africa * 150 15 105,000 0.39
 Israel * 120 [11] 12 5,800 5.7
 Hungary * 120 [11] 35 39,000 0.84
 Lithuania * 120 8,900 3.7
 Tajikistan * 120 300 100
 Greece * 100 15,000 2
 Slovakia * 9.00 6,400 4
 Benin * 8.00
 Belize * 6.00 1,700 10
 Taiwan * 2.00 25,000 0.2
 Barbados 1.00 500 5
 Jordan * 1.00 [11] 1 300 9
 Morocco * 0.6.00 160 10
 Ethiopia * 0.4.00
 World 1,703,000.00 1,535,773 1,750,600 93,148,000 50.06

* indicates "Oil reserves in COUNTRY or TERRITORY" or "Energy in COUNTRY or TERRITORY" links.

See also

References

  1. ^ BP Statistical Review of World Energy, 2015
  2. ^ OPEC Statistical Bulletin, 2015.
  3. ^ World Factbook, US Central Intelligence Agency, 2015.
  4. ^ "U.S. Crude Oil plus Lease Condensate Proved Reserves". www.eia.gov. Retrieved 13 June 2021.
  5. ^ "International - U.S. Energy Information Administration (EIA)". www.eia.gov. Retrieved 5 October 2023.
  6. ^ Economou, Andreas; Fattouh, Bassam (7 May 2021). "OPEC at 60: the world with and without OPEC". OPEC Energy Review. 45: 3–28. doi:10.1111/opec.12205. ISSN 1753-0229.
  7. ^ "Statistical Review of World Energy" (PDF). www.bp.com. 8 June 2016. Retrieved 23 October 2023.
  8. ^ "International - U.S. Energy Information Administration (EIA)". www.eia.gov. Retrieved 5 October 2023.
  9. ^ "OPEC : Iran". www.opec.org. Retrieved 13 June 2021.
  10. ^ Oil Resources, Natural Resources Canada, 16 Feb. 2,016.
  11. ^ a b c d e f g h i j k l m n o p q r s t Reolon, Dario; Di Maggio, Federica; Moriggi, Sara; Galli, Giuseppe; Pirrone, Marco (24 June 2020). "Unlocking Data Analytics for the Automatic Evaluation of Cement Bond Scenarios". SPWLA 61st Annual Online Symposium Transactions. Society of Petrophysicists and Well Log Analysts. doi:10.30632/spwla-5060. S2CID 225718759.
  12. ^ "Guyana scrambles to make the most of oil wealth". BBC News. Retrieved 3 December 2023.
  13. ^ pedromedro (6 July 2011). "Namibia Sees 11 Billion Barrels In Offshore Oil Reserves". Eco (Atlantic) Oil & Gas Plc. Retrieved 21 December 2023.
  14. ^ "Namibia's offshore oil discoveries estimated at 11 bln barrels - NAMCOR". Reuters.
  15. ^ OilNOW (5 August 2020). "Suriname's Block 58 could hold 6.5 billion barrels of oil – Morgan Stanley | OilNOW". Retrieved 26 September 2023.
  16. ^ "Request Rejected". www.pemex.com. Retrieved 13 June 2021.
  17. ^ "British Oil Firm Accused of Corruption in Somalia Exploration Deal". VOA. Retrieved 3 December 2023.