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List of countries by proven oil reserves

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Map of countries with proven oil reserves - according to US 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

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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.)

Comparison of proven oil reserves from some widely used sources (billions of barrels, 2021)
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

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Reserve amounts are listed in millions of barrels.

Proven reserves (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) 304,000.00 303,220 303,800 852,000 978
 Saudi Arabia *(OPEC) 267,000.00 267,230 297,600 8,950,000 79
 Iran *(OPEC) 209,000.00 208,600 155,600 4,084,000 140
 Canada * 170,000.00 4,421 172,200 171,000 4,971,000 94
 Iraq *(OPEC) 145,000.00 147,223 145,000 4,375,000 91
 Kuwait *(OPEC) 102,000.00 104,000 101,500 2,644,000 106
 United Arab Emirates *(OPEC) 113,000.00 113,000 97,800 3,300,000 81
 Russia *(OPEC+) 80,000.00 99,000 107,800 10,126,000 22
 United States 74,000.00 68,000 68,800 48,000 13,295,000 15
 Libya *(OPEC) 50,000 48,773 48,800 42,000 1,248,000 109.8
 Nigeria *(OPEC) 37,000.00 37,500 37,100 1,573,000 64
 Kazakhstan *(OPEC+) 30,000.00 30,000 30,000 1,897,000 43
 Somalia * 30,000.00 30,000 30,000 50,000 164
 China * 26,000.00 27,000 26,000 4,172,000 17
 Qatar * 25,000.00 25,244 25,244 1,322,000 52
 Brazil * 13,000.00 12,634 13,000 16,848 3,585,000 10
 Algeria *(OPEC) 12,000.00 12,200 12,200 1,160,000 28
 Guyana * 11,000.00 11,000 645,000 47
 Namibia * 11,000.00 11,000 20,000 1,507
 Ecuador 8,300.00 8,273 8,000 486,000 47
 Norway * 8,100.00 6,376 8,500 2,079,000 11
 Angola * 7,800.00 8,384 7,800 1,235,000 17
 Azerbaijan *(OPEC+) 7,000.00 7,000 7,000 601,000 32
 Mexico *(OPEC+) 6,000 6,537 10,800 9,700 1,903,000 8.4
 Oman *(OPEC+) 5,400.00 5,373 5,300 1,040,000 14
 India * 4,600.00 4,495 5,680 4,409 589,000 21
 Vietnam * 4,400.00 4,400 4,000 165,000 73
 South Sudan(OPEC+) 3,800.00 3,500 160,000 65
 Malaysia *(OPEC+) 3,600.00 3,600 3,600 5,542 660,000 15
 Egypt * 3,300.00 4,400 3,500 559,000 16
 Yemen * 3,000.00 3,000 15,000 548
 Congo (OPEC) 2,900.00 1,811 2,900 253,000 31
 United Kingdom * 2,500.00 2,069 2,800 2,618 647,000 11
 Syria * 2,500.00 2,500 2,500 95,000 72
 Uganda * 2,500.00
 Argentina * 3,000.00 2,162 2,500 677,000 10
 Indonesia * 2,500.00 3,310 3,600 3,497 605,000 11
 Australia * 2,400.00 3,985 4,000 4,002 395,000 17
 Suriname 2,400.00 2,400 2,400 13,000 421.5
 Colombia * 2,000.00 1,665 2,300 787,000 7.0
 Gabon *(OPEC) 2,000.00 2,000 2,000 220,000 25
 Chad * 1,500.00 1,500 126,000 33
 Turkey * 1,400.00 1350 89,000 43
 Sudan *(OPEC+) 1,300.00 5,000 1,500 71,000 50
 Brunei *(OPEC+) 1,100.00 1,100 1,100 100,000 30
 Equatorial Guinea *(OPEC) 1,100.00 1,100 1,100 79,000 38
 Peru * 900.00 1,400 1,489 44,000 56
 Ghana * 700.00 175,000 11
 Romania * 600.00 600 57,000 29
 Turkmenistan * 600.00 600 600 191,000 8.6
 Uzbekistan * 600.00 594 600 32,000 51
 Pakistan * 500.00 236 83,000 17
 Italy * 500.00 600 595 69,000 20
 Denmark * 400.00 439 600 550 58,000 19
 Tunisia * 400.00 400 33,000 33
 Ukraine * 400.00 395
 Thailand * 300.00 400 136,000 6.0
 Trinidad and Tobago * 200.00 700 830 54,000 10
 Bolivia * 200.00 210 22,000 25
 Cameroon * 200.00 49,000 11
 Belarus * 200.00 198 29,000 19
 Bahrain *(OPEC+) 200.00 167,000 3.3
 DR Congo 200.00 19,000 29
 Papua New Guinea * 200.00 158 31,000 18
 Albania * 200.00 14,000 39
 Chile * 200.00 2,300 238
 Niger * 200.00 6,000 91
 Spain * 200.00
 Myanmar * 100.00 7,100 39
 Philippines 100.00 900 304
 Netherlands 100.00 141 28,000 10
 Cuba * 100.00 124 30,000 9.1
 Germany * 100.00 229 32,000 8.6
 Poland * 100.00 151 18,000 15
 Ivory Coast * 100.00 29,000 9.4
 Guatemala 86.00 6,000 39
 Serbia * 77.00 13,000 16
 Croatia * 71.00 10,000 19
 France * 61.00 12,000 14
 Japan * 44.00 3,500 34
 New Zealand * 40.00 11,000 10
 Kyrgyzstan * 40.00 6,200 18
 Austria * 35.00 8,800 11
 Georgia * 35.00 200 479
 Bangladesh * 28.00 3,000 26
 Mauritania * 20.00
 Bulgaria * 15.00 1,000 41
 Czech Republic * 15.00 15.0 1,400 29
 South Africa * 15.00 15 1,000 41
 Israel * 12.00 12 15,000 2.2
 Hungary * 12.00 35 20,000 1.6
 Lithuania * 12.00 700 47
 Tajikistan * 12.00 300 110
 Greece * 10.00 1,500 18
 Slovakia * 9.00 100 247
 Benin * 8.00
 Belize * 6.00 800 21
 Taiwan * 2.00 200 27
 Barbados 1.00 1,000 2.7
 Jordan * 1.00 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

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References

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  1. ^ "Full report – Statistical Review of World Energy 2021" (PDF). BP. Retrieved 10 August 2024.
  2. ^ "2022 OPEC Annual Statistical Bulletin" (PDF). OPEC. Retrieved 10 August 2024.
  3. ^ "Interactive charts". asb.opec.org. Retrieved 10 August 2024.
  4. ^ "Petroleum - The World Factbook". www.cia.gov. Retrieved 10 August 2024.
  5. ^ "Largest proved reserve holders of crude oil" (XLSX). eia.gov. 1 December 2021. Retrieved 10 August 2024.
  6. ^ "International - U.S. Energy Information Administration (EIA)". www.eia.gov. Retrieved 5 October 2023.
  7. ^ 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.
  8. ^ "Statistical Review of World Energy" (PDF). www.bp.com. 8 June 2016. Retrieved 23 October 2023.
  9. ^ "International - U.S. Energy Information Administration (EIA)". www.eia.gov. Retrieved 5 October 2023.
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