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Banned
[h=2]Venezuela now holds the largest proven oil reserves in the world, overtaking Saudi Arabia, according to BP Plc.[/h]
Global reserves have been increased by 1.9 percent from last years 1.62 trillion barrels to 1.65 trillion. Robert Wine, a spokesman from BP, explained that the reason for the revisions is that BPs review is published in June, before most countries issue their annual reserve figures.
A founding member of the Organization of Petroleum Exporting Countries, Venezuelas total deposits stood at an estimated 296.5 billion barrels at the end of last year, according to the annual Statistical Review of World Energy published Wednesday. That compared to Saudi Arabias 265.4 billion barrels.
Oil reserves in Venezuela now account for about 17.9 precent of the worlds oil; Saudi Arabia hold 16.1 percent; whilst Canada are third with 10.6 percent.
Russia, the worlds biggest crude producer, boosted its deposits to 88.2 billion barrels from a revised 86.6 billion a year earlier, according to BP. Russias share of the total is 5.3 percent.
Source: http://www.inautonews.com/venezuela-surpasses-saudi-arabia-in-proven-oil-reserves-–-bp
Global reserves have been increased by 1.9 percent from last years 1.62 trillion barrels to 1.65 trillion. Robert Wine, a spokesman from BP, explained that the reason for the revisions is that BPs review is published in June, before most countries issue their annual reserve figures.
A founding member of the Organization of Petroleum Exporting Countries, Venezuelas total deposits stood at an estimated 296.5 billion barrels at the end of last year, according to the annual Statistical Review of World Energy published Wednesday. That compared to Saudi Arabias 265.4 billion barrels.
Oil reserves in Venezuela now account for about 17.9 precent of the worlds oil; Saudi Arabia hold 16.1 percent; whilst Canada are third with 10.6 percent.
Russia, the worlds biggest crude producer, boosted its deposits to 88.2 billion barrels from a revised 86.6 billion a year earlier, according to BP. Russias share of the total is 5.3 percent.
Source: http://www.inautonews.com/venezuela-surpasses-saudi-arabia-in-proven-oil-reserves-–-bp
