Ranking oil reserves
This is a list of countries by proven oil reserves. Proven 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 give different figures. Some of the differences reflect different types of oil included. Diffe With 300,878 million barrels of proven reserves, Venezuela has the largest amount of proven oil reserves in the world. The country's oil is a relatively new discovery. Previously, Saudi Arabia had always held the number one position. The oil sand deposits in Venezuela are similar to those in Canada. Proven Oil Reserves is determined through geological and engineering processes to produce an estimated value of oil stocks in the ground. Proven Oil Reserves showcases the commercially available (and theoretically recoverable) oil reserves of a given country based on its recognized reservoirs. For the purposes of the GFP ranking, oil is a highly-valued component when considering a prolonged military campaign and is used in conjunction with oil consumption and oil production values. Data Venezuela tops the list with 300.9 billion barrels of oil in reserve – but even this vast wealth in natural resources has not been enough to save the country from its recent economic and humanitarian crisis. Saudi Arabia, a country known for its oil dominance, takes the #2 spot with 266.5 billion barrels of oil. Canada is a different story. It has 169,709 million barrels and has considerable oil sand deposits in the province of Alberta. Iran has approximately 160,000 million barrels of oil reserves. The country, aka as Persia, first produced oil in 1908. Although Libya has more reserves, there were 37.2 billion barrels of proven oil reserves in Nigeria, ranking the country as the largest oil producer in Africa and the 10th largest in the world. At current rates this would be 45 years of supply if no new oil was found.
THE TOP 10 LARGEST OIL RESERVES IN THE WORLD. Of all the natural resources, crude oil reserves are perhaps the most lucrative and profitable of them all. A country with large and prosperous oil reserves holds a definite advantage in world trade over those without such a source of crude oil.
established oil reserves stood at 168.1 billion barrels. This gives Alberta the distinction of having the third- largest proven oil reserves in the world. 9 Nov 2019 Oil. Canada has the third-largest oil reserves in the world. Of the 170 billion barrels of Canadian oil that can be recovered economically with 7 Oct 2019 The Mideast's Biggest Oil Producers. The Middle East's association with oil production primarily comes from countries like Saudi Arabia, Iran, Iraq, 12 Jun 2019 The U.S. currently holds the title of global leader in recoverable oil resources, Rystad estimates the world's proven oil reserves to total 386 billion barrels. considering Canada has had the 3 rd largest oil reserves for years.
12 Sep 2017 Russia has the world's eighth-largest proven oil reserves, at 80 billion barrels. Russia is the second-largest crude oil exporter by volume. 1
This chart shows Oil Reserves Countries in the World. An oil is any neutral, nonpolar chemical substance that is a viscous liquid at ambient temperatures and is both hydrophobic and Rank. Country. Reserves of crude oil in billion barrels
Proven oil reserves in the United States were 43.8 billion barrels (6.96 × 10 ^ 9 m 3) of crude oil as of the end of 2018, excluding the Strategic Petroleum Reserve. The 2018 reserves represent the largest US proven reserves since 1972.
Oil reserves, billion barrels, 2019 - Country rankings: The average for 2019 was 8.62 billion barrels.The highest value was in Venezuela: 302.81 billion barrels The United States of America is the top country by crude oil reserves in the world. As of October 2019, crude oil reserves in the United States of America was 14 Apr 2013 Venezuela surpassed Saudi Arabia last year to become the holder of the largest oil reserves in the world. However, annual oil production of the Venezuela has replaced Saudi Arabia as the country with the largest oil reserves. Here's a look at the world's top 10 countries holding the most oil. List of countries ranked by Oil - proved reserves. Rank, Country, Oil - proved reserves (bbl). 1, Venezuela, 302,300,004,352. 2, Saudi Arabia, 266,200,006,656. 28 May 2019 With remaining reserves of over 17.2 billion barrels of oil equivalent (BBOe), the Marjan Complex is the field with the largest reserves in the world. 25 Mar 2019 Top 10 Countries With the Biggest Crude Oil Reserves. 1. Venezuela: 300.9 Gbbl 2. Saudi Arabia: 266.5 Gbbl 3. Canada: 169.7 Gbbl 4. Iran:
22 May 2019 With a small population, and a wealth of oil – over 25.2 billion barrels in proven reserves – Qatar has the highest GDP per capita of any country in
25 Mar 2019 Top 10 Countries With the Biggest Crude Oil Reserves. 1. Venezuela: 300.9 Gbbl 2. Saudi Arabia: 266.5 Gbbl 3. Canada: 169.7 Gbbl 4. Iran:
17 Feb 2020 Venezuela has the largest amount of oil reserves in the world with 300.9 billion barrels. Saudi Arabia has the second-largest amount of oil Oil reserves, billion barrels, 2019 - Country rankings: The average for 2019 was 8.62 billion barrels.The highest value was in Venezuela: 302.81 billion barrels The United States of America is the top country by crude oil reserves in the world. As of October 2019, crude oil reserves in the United States of America was 14 Apr 2013 Venezuela surpassed Saudi Arabia last year to become the holder of the largest oil reserves in the world. However, annual oil production of the Venezuela has replaced Saudi Arabia as the country with the largest oil reserves. Here's a look at the world's top 10 countries holding the most oil.