Proven oil reserves total world oil reserves (percentage)

Proven oil reserves production (years)

Proven oil reserves (billions of barrels)

The six biggest Middle Eastern oil producing countries officially hold around 740 billion barrels (Gbs) of proven oil reserves.

Oil is extracted and processed by Petroleum Development Oman (PDO), with proven oil reserves holding approximately steady, although oil production has been declining.

They are also home to many of the world s critical natural resources, possessing around 60 of proven oil reserves.

Russia is the world s largest oil and gas exporter, sitting on more than 25 of total proven gas reserves.

Those four states contain half of the world s proven oil reserves and two thirds of what could potentially be exported.

Compared to the preceding year another 40.4 in crude oil reserves were proven in 2010, allowing Venezuela to surpass Saudi Arabia as the country with the largest reserves of this type.

It has 10 of global oil reserves.

In 2005 it had proven recoverable coal reserves of 171 million tons.

Besides the largest conventional oil reserves and the second largest natural gas reserves in the Western Hemisphere, Venezuela has non conventional oil deposits (extra heavy crude oil, bitumen and tar sands) approximately equal to the world's reserves of conventional oil.

It has large oil reserves and other minerals.

The country has the world's largest natural gas reserves, the 8th largest oil reserves, and the second largest coal reserves.

(Applause.) But with only 2 percent of the world's oil reserves, oil isn't enough.

Saudi Arabia disposes of 260.3 billion barrels in proven oil reserves, or 45.3 per cent of the ESCWA region apos s total and 26.1 per cent of the world total.

These reserves were the largest in the world until Venezuela announced they had increased their proven reserves to 297 Gbbl in January 2011.

Brazil s new oil reserves will certainly affect regional geo politics.

Over a trillion barrels of reserves have been proven, and more are likely to be found.

According to the Oil and Gas Journal (January 1, 2009), the MENA region has 60 of the world's oil reserves () and 45 of the world's natural gas reserves ( ).

At the same time, oil hedging not only raises oil prices but results in huge reserves of cash in oil producing countries.

Two thirds of proven reserves are in the Persian Gulf, one of the world s most volatile regions.

Proven oil reserves in the region were virtually unchanged between 1991 and 1992 at 574.8 billion barrels, accounting for 57.7 per cent of the world total and 77.4 per cent of the OPEC total.

Moreover, Iraq's possession of oil is a mixed blessing, because few oil based economies have proven hospitable to liberal democracy.

Major oil fields Although Saudi Arabia has around 100 major oil and gas fields, over half of its oil reserves are contained in only eight giant oil fields, including the Ghawar Field, the biggest oil field in the world with an estimated 70 billion barrels of remaining reserves.

It is estimated that the Norwegian section alone contains 54 of the sea's oil reserves and 45 of its gas reserves.

Still, Iraq has vast oil and natural gas reserves, to which all of the major oil companies wanted access.

Petroleum and other resources Venezuela has the largest oil reserves, and the eighth largest natural gas reserves in the world, and consistently ranks among the top ten world crude oil producers.

Large oil reserves were first identified in the Dhahran area in 1931, and in 1935, Standard Oil drilled the first commercially viable oil well.

And we're doing this on the second largest oil reserves on the planet.

Africa is estimated to hold more than 10 of global oil reserves and one third of reserves of cobalt and base metals.

Kuwait's oil reserves are the fourth largest in the world and the Burgan Field is the second largest oil field.

Saudi Arabia, Iraq, Kuwait and the United Arab Emirates together account for 55.5 per cent of world proven reserves.

The discoveries are the largest oil reserves discovered in the ocean in recent years.

This area included some of the last oil reserves still available to the Germans.

30. There is a possibility that offshore oil reserves will prove to be significant.

Covering this drop in reserves more than half of gas reserves and a fifth of oil reserves have been consumed with imports implies an annual cost of more than 300 billion.

With technological progress and rising oil prices, most of these reserves will become conventional, helping to push back peak oil for years.

Since the discovery of oil in the early 20th century, Venezuela has the world's largest oil reserves and has been one of the world's leading exporters of oil.

Such an outcome, however, would also leave the South with most of Sudan s oil reserves.

In recent years, major reserves of oil have been discovered at various locations across Africa.

He became enormously popular in Iran after he nationalized Iran's petroleum industry and oil reserves.

The country's oil reserves have played a major role in its growing wealth and influence.

OXFORD Throughout the history of the oil industry, fear and concern about the imminent exhaustion of oil reserves has been a recurring theme.

The world is not running out of oil, but two thirds of oil reserves are located in the politically unstable Persian Gulf region.