Friday, September 23, 2011

Proved Oil Reserves

Global oil reserves rose by 6.6 billion barrels to 1,383 billion barrels in 2010. In 2010, increases in India, Brazil, Russia, Uganda, Columbia, and Ghana outpaced declines in Mexico and Norway. The 2009 figure was revised higher by 44 billion bbls, due to large upward revisions in Venezuela of 39 billion bbls and smaller increases in Russia, the US, and Libya. At the end of 2010 the global R/P ratio was 46.2 up from 40.3 ten years prior.

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