With 300,878 million barrels of proven reserves, Venezuela has the largest amount of proven oil reserves in the world. The country's oil is a relatively new discovery. Previously, Saudi Arabia had always held the number one position. The oil sand deposits in Venezuela are similar to those in Canada. Considering only proved reserves (1P), the study ranks Saudi Arabia at the top with 70 billion barrels, followed by Russia with 51 billion, Iran with 32 billion, the United States with 29 billion and Canada with 24 billion. Ranked by proved plus probable reserves (P2), Saudi Arabia holds 120 billion barrels, The Saudi Energy Ministry said in a statement carried by state news agency SPA that Saudi Arabia’s proven oil and gas reserves stood at around 268.5 billion barrels of oil and 325.1 trillion Largest oil reserves. Venezuela – 300 billion barrels. Venezuela has the largest oil reserves of any country in the world, with more than 300 billion barrels of Saudi Arabia – 269 billion barrels. Canada – 171 billion barrels. Iran – 158 billion barrels. Iraq – 143 billion barrels.
1 Mar 2017 Saudia Arabia's Ghawar oil field, which produces half of Saudi oil and is The AER reported Alberta's remaining proved reserves as only 165 16 Nov 2016 Saudi officials have consistently said there are about 260bn barrels of proven reserves at the world's largest oil exporter since the formerly US- 6 Sep 2012 Saudi Arabia is home to less than half a percent of the world's population — and fully 16 percent of the world's proven oil reserves. Nonetheless 30 Jan 2006 In 1983, for example, Kuwait increased its proven reserves from 67 the world's second largest oil field after Saudi Arabia's Ghawar structure.
If new field discoveries are included the reserve figure could grow to somewhere between 168 billion and 212 billion barrels (“United States now holds more oil reserves than Saudi Arabia That's 24.8% of OPEC's total and ahead of Saudi Arabia's 266.46 billion barrels of proven oil reserves, which is 22% of the organization's reserves. U.S. Overtakes Saudi Arabia In Recoverable Oil Reserves. The United States has again outstripped Saudi Arabia as the holder of the world’s biggest recoverable oil resources with current technology, largely due to the doubling of fracking operations in the Permian, according to data by research consultancy Rystad Energy.
23 Sep 2019 Saudi Arabia has often manipulated the truth a bit when it comes to exports, production or reserves, and following the attacks on its oil This level, though, or anywhere near it, has never been even remotely tested, with the 1 Venezuela 297.57 billion barrels The proven oil reserves in Venezuela are claimed to be the largest in the world, according to an announcement in early 2011
The proven oil reserves in Saudi Arabia are the 2nd largest in the world, estimated to be 268 billion barrels (43 × 10 ^ 9 m 3) (Gbbl hereafter), including 2.5 Gbbl in the Saudi–Kuwaiti neutral zone. They are predominantly found in the Eastern Province. Saudi Arabia holds 266,578,000,000 barrels of proven oil reserves as of 2016, ranking 2nd in the world and accounting for about 16.2% of the world's total oil reserves of 1,650,585,140,000 barrels. Saudi Arabia has proven reserves equivalent to 221.2 times its annual consumption .