 |
Louisiana Light • 2 days | 74.87 | +0.86 | +1.16% | ||
|
Bonny Light • 23 hours | 75.68 | -0.89 | -1.16% | ||
|
Opec Basket • 3 days | 75.47 | -1.62 | -2.10% | ||
|
Mars US • 7 hours | 71.59 | -1.24 | -1.70% | ||
|
Gasoline • 12 mins | 2.604 | -0.009 | -0.34% |
|
Bonny Light • 23 hours | 75.68 | -0.89 | -1.16% | ||
|
Girassol • 23 hours | 78.20 | -0.88 | -1.11% | ||
|
Opec Basket • 3 days | 75.47 | -1.62 | -2.10% |
|
Peace Sour • 22 hours | 66.78 | +0.79 | +1.20% | ||
|
Light Sour Blend • 22 hours | 68.08 | +0.79 | +1.17% | ||
|
Syncrude Sweet Premium • 22 hours | 77.03 | +0.79 | +1.04% | ||
|
Central Alberta • 22 hours | 66.38 | +0.79 | +1.20% |
|
Eagle Ford • 2 days | 69.01 | +0.79 | +1.16% | ||
|
Oklahoma Sweet • 2 days | 69.00 | +0.75 | +1.10% | ||
|
Kansas Common • 3 days | 62.00 | +0.00 | +0.00% | ||
|
Buena Vista • 7 days | 76.40 | +1.64 | +2.19% |
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BP Announces that Venezuela Now Have the Largest Oil Reserves in the World
BP has just released its annual Statistical Review of World Energy in which it claims that Venezuela now holds the largest proven oil reserves in the world, overtaking the original leader Saudi Arabia.
The South American nation’s oil deposits were increased from last year’s figure to an estimated at 296.5 billion barrels, more than Saudi Arabia’s 265.4 billion barrels.
Global reserves have been increased by 1.9 percent from last year’s 1.62 trillion barrels to 1.65 trillion. Robert Wine, a spokesman from BP, explained that the reason for the revisions is that BP’s review is published in June, before most countries issue their annual reserve figures.
Last year’s average oil price was also at record levels which meant that lots of hard-to-reach oil deposits became commercially viable. North Sea Brent crude oil, a general benchmark for most of the world’s oil, averaged $107.38 a barrel in 2011.
Oil reserves in Venezuela now account for about 17.9 precent of the world’s oil; Saudi Arabia hold 16.1 percent; whilst Canada are third with 10.6 percent.
The Venezuelan president Hugo Chavez yesterday released plans that promise he will more than double the countries oil production capacity by 2019, if re-elected in October.
All of BP’s estimates were calculated from a combination of official sources, OPEC data, and other third party estimates.
By. Charles Kennedy of Oilprice.com
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the tenth oft world oil ranking.
Venezuela and Brazil are very different from other
places. Natural resources like oil are state property.
The explore-and-use of oil is regulated in law.
In South America the brazilian leadership can not
be contested by foreign countries and foreign
interference in the internal political affairs of
the south american countries has no more chances to
happen like happenned in the past.
Its a comedy show alright.
Evolution is an interesting beast
Every time we get a new claim now, based on such statistics, we ask ourselves how long before each new claim becomes submerged in a plethora of counter and counter counter claims claims challenging it and each others validity.
In addition to which practically every new use of statistiocs appears to be politically manipulated. There really is no such thing, if there ever was, as 'objective statistics'.
I won't hold my breath on this one. Next thing you know some oil company will claim Nigeria or Afghanistan as having the worls largest proven reserves.
We are overwhelmed by a veritable 'tsunami' of statistical fabrications...