List of countries by proven oil reserves
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
[edit]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 US is from shale, leading to the paradoxical data below that the US will finish all its oil at 2024 production levels in 10 years.)
| Source | Canada | Iran | Iraq | Russia | Saudi Arabia | United States | Venezuela |
|---|---|---|---|---|---|---|---|
| BP[1] | 168.1 | 157.8 | 145.0 | 107.8 | 297.5 | 68.8 | 303.8 |
| OPEC[2][3] | 5.0 | 208.6 | 145.0 | 80.0 | 267.2 | 38.8 | 303.5 |
| US CIA[4] | 170.3 | 208.6 | 145.0 | 80.0 | 258.6 | 38.2 | 303.8 |
| US EIA[5] | 168.1 | 208.6 | 145.0 | 80.0 | 261.6 | 60.5 | 303.6 |
Countries
[edit]Reserve amounts are listed in millions of barrels.
| Country | EIA [6] |
OPEC [7] |
BP [8] |
Others | Oil production Dec 2023 (bbl/day)[9] |
Years of production in reserve |
|---|---|---|---|---|---|---|
 Venezuela *(OPEC)
|
304,000 | 303,220 | 303,800 | 852,000 | 978 | |
 Saudi Arabia *(OPEC)
|
267,000 | 266,260 | 297,600 | 8,950,000 | 79 | |
 Iran *(OPEC)
|
209,000 | 208,600 | 155,600 | 4,084,000 | 140 | |
 Canada *
|
170,000 | 4,421 | 172,200 | 171,000 | 4,971,000 | 94 |
 Iraq *(OPEC)
|
145,000 | 147,223 | 145,000 | 4,375,000 | 91 | |
 Kuwait *(OPEC)
|
102,000 | 104,000 | 101,500 | 2,644,000 | 106 | |
 United Arab Emirates *(OPEC)
|
113,000 | 113,000 | 97,800 | 3,300,000 | 81 | |
 Russia *(OPEC+)
|
80,000 | 99,000 | 107,800 | 10,126,000 | 22 | |
 Libya *(OPEC)
|
48,000 | 74,363 | 48,400 | 1,248,000 | 105 | |
 United States *
|
74,000 | 32,773 | 68,800 | 43,629 | 13,295,000 | 10 |
 Nigeria *(OPEC)
|
37,000 | 37,453 | 37,100 | 1,573,000 | 64 | |
 Kazakhstan *(OPEC+)
|
30,000 | 30,000 | 30,000 | 1,897,000 | 43 | |
 Somalia *
|
30,000[10][11][12][13] | 50,000 | 1,644 | |||
 China *
|
26,000 | 27,000 | 26,000 | 4,172,000 | 17 | |
 Qatar *
|
25,000 | 25,244 | 25,244 | 1,322,000 | 52 | |
 Brazil *
|
13,000 | 12,634 | 13,000 | 16,848 | 3,585,000 | 10 |
 Algeria *(OPEC)
|
12,000 | 12,200 | 12,200 | 1,160,000 | 28 | |
 Guyana *
|
11,000 | 11,000 | 645,000 | 47 | ||
 Ecuador
|
8,300 | 8,273 | 8,000 | 486,000 | 47 | |
 Norway *
|
8,100 | 6,376 | 8,500 | 2,079,000 | 11 | |
 Angola *
|
7,800 | 8,384 | 7,800 | 1,235,000 | 17 | |
 Azerbaijan *(OPEC+)
|
7,000 | 7,000 | 7,000 | 601,000 | 32 | |
 Mexico *(OPEC+)
|
6,000 | 6,537 | 10,800 | 9.700 | 1,903,000 | 8.4 |
 Oman *(OPEC+)
|
5,400 | 5,373 | 5,300 | 1,040,000 | 14 | |
 India *
|
4,600 | 4,495 | 5,680 | 4,409 | 589,000 | 21 |
 Vietnam *
|
4,400 | 4,400 | 4,000 | 165,000 | 73 | |
 South Sudan(OPEC+)
|
3,800 | 3,500 | 160,000 | 65 | ||
 Malaysia *(OPEC+)
|
3,600 | 3,600 | 3,600 | 5,542 | 525,000 | 19 |
 Egypt *
|
3,300 | 4,400 | 3,500 | 559,000 | 16 | |
 Yemen *
|
3,000 | 3,000 | 15,000 | 548 | ||
 Congo (OPEC)
|
2,900 | 1,811 | 2,900 | 253,000 | 31 | |
 United Kingdom *
|
2,500 | 2,069 | 2,800 | 2,618 | 647,000 | 11 |
 Syria *
|
2,500 | 2,500 | 2,500 | 95,000 | 72 | |
 Uganda *
|
2,500 | |||||
 Argentina *
|
3,000 | 2,162 | 2,500 | 677,000 | 10 | |
 Indonesia *
|
2,500 | 3,310 | 3,600 | 3,497 | 605,000 | 11 |
 Australia *
|
2,400 | 3,985 | 4,000 | 4,002 | 395,000 | 17 |
 Colombia *
|
2,000 | 1,665 | 2,300 | 787,000 | 7.0 | |
 Gabon *(OPEC)
|
2,000 | 2,000 | 2,000 | 220,000 | 25 | |
 Chad *
|
1,500 | 1,500 | 126,000 | 33 | ||
 Turkey *
|
1,400 | 1350 | 89,000 | 43 | ||
 Sudan *(OPEC+)
|
1,300 | 5,000 | 1,500 | 71,000 | 50 | |
 Brunei *(OPEC+)
|
1,100 | 1,100 | 1,100 | 100,000 | 30 | |
 Equatorial Guinea *(OPEC)
|
1,100 | 1,100 | 1,100 | 79,000 | 38 | |
 Peru *
|
900 | 1,400 | 1,489 | 44,000 | 56 | |
 Ghana *
|
700 | 175,000 | 11 | |||
 Romania *
|
600 | 600 | 57,000 | 29 | ||
 Turkmenistan *
|
600 | 600 | 600 | 191,000 | 8.6 | |
 Uzbekistan *
|
600 | 594 | 600 | 32,000 | 51 | |
 Pakistan *
|
500 | 236 | 83,000 | 17 | ||
 Italy *
|
500 | 600 | 595 | 69,000 | 20 | |
 Denmark *
|
400 | 439 | 600 | 550 | 58,000 | 19 |
 Tunisia *
|
400 | 400 | 33,000 | 33 | ||
 Ukraine *
|
400 | 395 | ||||
 Thailand *
|
300 | 400 | 136,000 | 6.0 | ||
 Trinidad and Tobago *
|
200 | 700 | 830 | 54,000 | 10 | |
 Bolivia *
|
200 | 210 | 22,000 | 25 | ||
 Cameroon *
|
200 | 49,000 | 11 | |||
 Belarus *
|
200 | 198 | 29,000 | 19 | ||
 Bahrain *(OPEC+)
|
200 | 167,000 | 3.3 | |||
 DR Congo
|
200 | 19,000 | 29 | |||
 Papua New Guinea *
|
200 | 158 | 31,000 | 18 | ||
 Albania *
|
200 | 14,000 | 39 | |||
 Chile *
|
200 | 2,300 | 238 | |||
 Niger *
|
200 | 6,000 | 91 | |||
 Spain *
|
200 | |||||
 Myanmar *
|
100 | 7,100 | 39 | |||
 Philippines
|
100 | 900 | 304 | |||
 Netherlands
|
100 | 141 | 28,000 | 10 | ||
 Cuba *
|
100 | 124 | 30,000 | 9.1 | ||
 Germany *
|
100 | 229 | 32,000 | 8.6 | ||
 Poland *
|
100 | 151 | 18,000 | 15 | ||
 Ivory Coast *
|
100 | 29,000 | 9.4 | |||
 Guatemala
|
86 | 6,000 | 39 | |||
 Serbia *
|
77 | 13,000 | 16 | |||
 Croatia *
|
71 | 10,000 | 19 | |||
 France *
|
61 | 12,000 | 14 | |||
 Japan *
|
44 | 3,500 | 34 | |||
 New Zealand *
|
40 | 11,000 | 10 | |||
 Kyrgyzstan *
|
40 | 6,200 | 18 | |||
 Austria *
|
35 | 8,800 | 11 | |||
 Georgia *
|
35 | 200 | 479 | |||
 Bangladesh *
|
28 | 3,000 | 26 | |||
 Mauritania *
|
20 | |||||
 Bulgaria *
|
15 | 1,000 | 41 | |||
 Czech Republic *
|
15 | 15.0 | 1,400 | 29 | ||
 South Africa *
|
15 | 15 | 1,000 | 41 | ||
 Israel *
|
12 | 12 | 15,000 | 2.2 | ||
 Hungary *
|
12 | 35 | 20,000 | 1.6 | ||
 Lithuania *
|
12 | 700 | 47 | |||
 Tajikistan *
|
12 | 300 | 110 | |||
 Greece *
|
10 | 1,500 | 18 | |||
 Slovakia *
|
9 | 100 | 247 | |||
 Benin *
|
8 | |||||
 Belize *
|
6 | 800 | 21 | |||
 Taiwan *
|
2 | 200 | 27 | |||
 Barbados
|
1 | 1,000 | 2.7 | |||
 Jordan *
|
1 | 1 | 100 | 27 | ||
| World | 1,720,000 | 1,585,187 | 1,793,424 | 82,926,000 | 57 |
* indicates links to "Oil reserves in Country or Territory" or "Energy in Country or Territory" pages.
See also
[edit]- List of countries by oil production
- List of countries by oil consumption
- List of countries by natural gas proven reserves
References
[edit]- ^ "Full report – Statistical Review of World Energy 2021" (PDF). BP. Retrieved 10 August 2024.
- ^ "2022 OPEC Annual Statistical Bulletin" (PDF). OPEC. Retrieved 10 August 2024.
- ^ "Interactive charts". asb.opec.org. Retrieved 10 August 2024.
- ^ "Petroleum - The World Factbook". www.cia.gov. Retrieved 10 August 2024.
- ^ "Largest proved reserve holders of crude oil" (XLSX). eia.gov. 1 December 2021. Retrieved 10 August 2024.
- ^ "International - U.S. Energy Information Administration (EIA)". www.eia.gov. Retrieved 5 October 2023.
- ^ Economou, Andreas; Fattouh, Bassam (7 May 2021). "OPEC at 60: the world with and without OPEC". OPEC Energy Review. 45 (1): 3–28. Bibcode:2021OEnRv..45....3E. doi:10.1111/opec.12205. ISSN 1753-0229.
- ^ "Statistical Review of World Energy" (PDF). www.bp.com. 8 June 2016. Retrieved 23 October 2023.
- ^ "International - U.S. Energy Information Administration (EIA)". www.eia.gov. Retrieved 5 October 2023.
- ^ "Turkish Seismic Vessel Heads to Somalia for Oil and Gas Exploration". The Maritime Executive. Retrieved 16 October 2024.
- ^ Mitchell, Charlie. "Coastline Exploration leads new charge on Somalia oil and gas". S&P Global Commodity Insights. Retrieved 16 October 2024.
- ^ "Somalia - Oil and Gas". www.trade.gov. 22 January 2024. Retrieved 16 October 2024.
- ^ Robson, Doug (21 February 2024). "Somalia Intends To Produce The First Oil In Its History By The End Of The Year". ROGTEC. Retrieved 16 October 2024.