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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.

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

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 US EIA
[6] 		OPEC
[7] 		BP
[8] 		Others Oil production
Dec 2023 (bbl/day)[9] 		Years of
production
in reserve
  Venezuela *(OPEC) 304,000.00 303,220 303,800 770,000 1,082
  Saudi Arabia *(OPEC) 259,000.00 266,260 297,600 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) 98,000.00 113,000 97,800 3,300,000 81
  Russia * 80,000.00 99,000 107,800 10,126,000 22
  Libya *(OPEC) 48,000.00 74,363 48,400 1,248,000 105
  United States * 48,300.00 32,773 68,800 43,629 13,295,000 10
  Nigeria *(OPEC) 37,000.00 37,453 37,100 1,573,000 64
  Kazakhstan * 30,000.00 30,000 30,000 1,897,000 43
  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 11,000 555,000 54
  Ecuador 8,300.00 8,273 8,000 486,000 47
  Norway * 8,100.00 6,376 8,500 1,894,000 12
  Angola * 7,800.00 8,384 7,800 1,235,000 17
  Azerbaijan * 7,000.00 7,000 7,000 601,000 32
  Mexico * 5,800.00 6,537 10,800 9.700 1,903,000 8.4
  Oman * 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 3,800.00 3,500 160,000 65
  Malaysia * 3,600.00 3,600 3,600 5,542 525,000 19
  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 * 2,500.00 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
  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 * 1,300.00 5,000 1,500 71,000 50
  Brunei * 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 * 500.00 600 595 119,000 12
  Denmark * 400.00 439 600 550 58,000 19
  Tunisia * 400.00 400 33,000 33
  Ukraine * 400.00 395 20[citation needed]
  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 * 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 * 200.00 100 5,479
  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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