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Gas Energy Reserves—Oil Coal and Uranium - International Reserves

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Crude Oil

Between 57% and 65% of the estimated world crude oil reserves of approximately one trillion barrels (as of January 1, 2003) are located in the Middle East. (See Table 7.6. This graphic gives two different sets of estimates—one from Pennwell Publishing Company's Oil & Gas Journal and one from Gulf Publishing Company's World Oil.) Saudi Arabia, Iraq, United Arab

TABLE 7.6

World crude oil and natural gas reserves, January 1, 2003
Crude oil (billion barrels) Natural gas (trillion cubic feet)
Region and country Oil & gas Journal World oil Oil & gas Journal World oil
1Includes 5.2 billion barrels of conventional crude oil and condensate reserves and 174.8 billion barrels of bitumen that is contained in Alberta's oil sands.
2Data for Kuwait and Saudi Arabia include one-half of the reserves in the Neutral Zone between Kuwait and Saudi Arabia.
3Albania, Azerbaijan, Belarus, Bulgaria, Czech Republic, Georgia, Kyrgyzstan, Lithuania, Poland, Slovakia, Tajikistan, Turkmenistan, Ukraine, Uzbekistan.
NA=Not available.
(s) Less than 0.05 billion barrels.
Notes: All reserve figures except those for the former U.S.S.R. and natural gas reserves in Canada are proved reserves recoverable with present technology and prices at the time of estimation. Former U.S.S.R. and Canadian natural gas figures include proved, and some probable reserves. Totals may not equal sum of components due to independent rounding.
Web Page: For related information, see http://www.eia.doe.gov/international.
SOURCE: "Table 11.4. World Crude Oil and Natural Gas Reserves, January 1, 2003," in Annual Energy Review 2003, U.S. Department of Energy, Energy Information Administration, Office of Energy Markets and End Use, September 7, 2004, http://www.eia.doe.gov/emeu/aer/pdf/aer.pdf (accessed September 28, 2004)
North America 215.3 45.4 255.8 262.1
Canada 1180.0 5.5 60.1 60.1
Mexico 12.6 17.2 8.8 15.0
United States 22.7 22.7 186.9 186.9
Central and South America 98.6 75.9 250.1 244.4
Argentina 2.9 2.8 27.0 23.4
Bolivia 0.4 0.9 24.0 28.1
Brazil 8.3 9.8 8.1 8.4
Colombia 1.8 1.6 4.5 4.2
Ecuador 4.6 4.6 0.3 0.3
Peru 0.3 1.0 8.7 8.6
Trinidad and Tobago 0.7 1.0 23.5 20.3
Venezuela 77.8 53.1 148.0 149.2
Other 1.6 1.0 6.1 1.8
Western Europe 18.3 17.0 191.6 175.7
Denmark 1.3 1.8 3.0 4.2
Germany 0.3 0.3 11.3 8.5
Italy 0.6 0.7 8.0 7.9
Netherlands 0.1 0.1 62.0 55.3
Norway 10.3 9.0 77.3 74.7
United Kingdom 4.7 4.5 24.6 22.2
Other 0.9 0.6 5.4 2.9
Eastern Europe and Former U.S.S.R. 79.2 81.9 1,964.2 2,047.0
Hungary 0.1 0.1 1.2 2.2
Kazakhstan 9.0 NA 65.0 NA
Romania 1.0 1.1 3.6 4.2
Russia 60.0 58.8 1,680.0 1,700.0
Other3 9.1 21.9 214.4 340.6
Middle East 685.6 669.8 1,979.7 2,517.0
Bahrain 0.1 NA 3.3 NA
Iran 89.7 100.1 812.3 913.6
Iraq 112.5 115.0 109.8 112.6
Kuwait2 96.5 98.9 52.7 56.6
Oman 5.5 5.7 29.3 31.0
Qatar 15.2 19.6 508.5 916.0
Saudi Arabia2 261.8 261.8 224.7 234.6
Syria 2.5 2.3 8.5 18.0
United Arab Emirates 97.8 63.0 212.1 204.1
Yemen 4.0 2.9 16.9 17.0
Other (s) 0.7 1.6 13.5
Africa 77.4 96.3 418.2 438.9
Algeria 9.2 13.0 159.7 170.0
Angola 5.4 8.9 1.6 4.0
Cameroon 0.4 NA 3.9 NA
Congo 1.5 1.5 3.2 4.2
Egypt 3.7 3.5 58.5 5.9
Libya 29.5 30.0 46.4 46.0
Nigeria 24.0 32.0 124.0 178.5
Tunisia 0.3 0.5 2.8 2.7
Other 3.4 6.8 18.1 27.7
Asia and Oceania 38.7 48.5 445.4 441.7
Australia 3.5 3.7 90.0 85.0
Brunei 1.4 1.1 13.8 8.3
China 18.3 23.7 53.3 46.7
India 5.4 4.6 26.9 23.6
Indonesia 5.0 5.9 92.5 73.5
Japan 0.1 NA 1.4 NA
Malaysia 3.0 4.3 75.0 88.0
New Zealand 0.2 0.1 3.1 2.6
Pakistan 0.3 0.3 26.4 26.4
Papua New Guinea 0.2 0.4 12.2 13.5
Thailand 0.6 0.5 13.3 12.9
Other 0.9 3.8 37.4 61.4
World 1,213.1 1,034.7 5,504.9 6,126.6

Emirates, Kuwait, Iran, Canada, Venezuela, and Russia have the largest reserves. With an estimated twenty-three billion barrels of reserves, or only about 2% of the world's oil reserves total, the United States can no longer depend on its own oil reserves unless it drastically lowers consumption.

Oil industry experts say that even though the world currently has sufficient supplies of oil, demand will rise in the future as economies such as those of China and India expand. This knowledge drives oil companies to seek new sources for oil. Companies from many nations have turned their attention to areas in the former Soviet Union, including the Caspian Sea, Azerbaijan, and Kazakhstan. Geologists from the United States Geological Survey reported that many billions of barrels of oil may be found there in World Petroleum Assessment 2000 ("World Undiscovered Assessment Results Summary," U.S. Geological Survey Digital Data Series 60, http://pubs.usgs.gov/dds/dds-060 [accessed January 10, 2005]). The report also concluded that significant amounts of oil may lie in the northeast Greenland Shelf region, the Niger and Congo delta areas, and offshore Suriname in South America.

Energy experts with the EIA predict increased offshore exploration, including in deep water, in International Energy Outlook 2004, "World Oil Markets." Offshore production is expected to increase near Algeria, Nigeria, and Venezuela, as well as in the North Sea and offshore areas of West Africa, Brazil, Colombia, Mexico, and Canada. Deep-sea exploration is extremely expensive, but if oil prices rise, the oil industry may launch more deep-water explorations.

FIGURE 7.4

Natural Gas

Russia and the Middle East have approximately twothirds of the world's estimated 5,505–6,127 trillion cubic feet (as of 2003) of natural gas reserves. (See Table 7.6.) Russia has more than twice as much natural gas in reserve as any other country, while Iran and Qatar possess the largest natural gas reserves in the Middle East. Large reserves (more than one hundred trillion cubic feet) are also located in United Arab Emirates, Saudi Arabia, the United States, Algeria, Venezuela, Nigeria, Iraq, and other areas of the former Soviet Union.

Coal

In 2000 worldwide recoverable reserves of coal were estimated at about 1.1 trillion short tons. The three countries with the most plentiful coal reserves are the United States (272 billion short tons), Russia (173 billion short tons), and China (126 billion short tons). (See Figure 7.4. Note that the data for the United States are as of December 31, 2002, while those for other countries are as of December 31, 2000, the latest available.)

Uranium

The world's supply of uranium is much larger than the capacity for disposing of it, should it be used as fuel. The countries with the largest known uranium reserves as of 2001, according to the Organization for Economic Cooperation and Development and the International Atomic Energy Agency, are Australia, Kazakhstan, Canada, South Africa, Namibia, Brazil, the Russian Federation, the United States, and Uzbekistan.

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