The Energy Information Administration, a department of the U.S. Department of Energy, has recently released the January 1, 2009 proved reserves for petroleum and natural gas. Proved reserves are the amount of oil and gas in the ground that is "reasonably certain" to be extracted using current technology at current prices. The following are lists of the top ten countries for petroleum and natural gas proved reserves, with their quantities and percentage of the world total for 2009:
Petroleum - Billion Barrels
1. Saudi Arabia - 266.710 (19.87%)
2. Canada - 178.092 (13.27%)
3. Iran - 136.150 (10.14%)
4. Iraq - 115.000 (8.57%)
5. Kuwait - 104.000 (7.75%)
6. Venezuela - 99.377 (7.40%)
7. United Arab Emirates - 97.800 (7.29%)
8. Russian Federation - 60.000 (4.47%)
9. Libya - 43.660 (3.25%)
10. Nigeria - 36.220 (2.70%)
- The world total of proved reserves is 1,342.207 billion barrels of petroleum, an increase of 10.164 billion barrels over 2008's total (a 0.76% increase).
- The total of the top ten countries makes up 84.71% of the world's proved reserves.
- Venezuela was the only country to move up in the rankings, having placed seventh in 2008; the United Arab Emirates dropped one place, to seventh.
- Canada's proved reserves are estimated to be 5.4 billion barrels of conventional crude oil and 173.2 billion barrels of oil sands reserves. (Oil sands are much more costly to refine than conventional crude oil.)
- Two countries had singificant increases in their amounts of crude oil proved reserves in 2008: Venezuela, with an increase of 12.342 billion barrels, and Libya, with an increase of 2.196 billion barrels. Ten other countries also had increases in their proved reserves as well; however, the highest amount of any of the ten was 442 million barrels (Brazil).
- Two countries had significant depletions in their amounts of crude oil proved reserves in 2008: Iran, with a decrease of 2.250 billion barrels, and Mexico, with a decrease of 1.149 billion barrels. Thirteen other countries also had decreases in their proved reserves.
Natural Gas - Trillion Cubic Feet
1. Russian Federation - 1,680.000 (26.86%)
2. Iran - 991.600 (15.85%)
3. Qatar - 891.945 (14.26%)
4. Saudi Arabia - 258.470 (4.13%)
5. United States - 237.726 (3.80%)
6. United Arab Emirates - 214.400 (3.43%)
7. Nigeria - 184.160 (2.94%)
8. Venezuela - 170.920 (2.73%)
9. Algeria - 159.000 (2.54%)
10. Iraq - 111.940 (1.79%)
- The world total of proved reserves is 6,254.364 trillion cubic feet of natural gas, an increase of 42.029 trillion cubic feet (a 0.68% increase). (I've noted a discrepancy in the difference between 2008 and 2009, coming up with an increase of 41.714 trillion cubic feet, a difference of 0.315 trillion cubic feet.)
- The total of the top ten countries makes up 78.35% of the world's proved reserves.
- There were no changes in the top ten rankings.
- Twelve countries had increases in their total proved reserves in 2008, for a total of 83.968 trillion cubic feet; however, this was partially offset by decreases in a total of fourteen countries, with depletions of 42.254 trillion cubic feet.