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OPEC : OPEC Share of World Crude Oil Reserves

According to current estimates, 79.4% of the world''s proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to 64.5% of the OPEC total. OPEC Member Countries have made significant additions to their oil reserves in recent years, for example, by adopting best practices in the ...

Country Analysis Executive Summary: Canada

 · Data are EIA estimates unless otherwise noted. 1 Oil & Gas Journal, Worldwide Reserves, January 1, 2019. 2 Canadian Association for Petroleum Producers, 2019 Crude Oil Forecast, Markets and Transportation. 3 Canadian Association for Petroleum Producers, 2019 Crude Oil Forecast, Markets and Transportation.

Canadian oil sands upstream investment the lowest in over ...

 · For the Canadian oil sands, a year that had started with cautious optimism and was on pace to record the first uptick in upstream spending since the 2014/15 price collapse has quickly evaporated. IHS Markit''s preliminary estimate indicates upstream oil sands capex in 2020 may be at their lowest levels in over 15 years.

Exxon Dumps Tar Sands/Oil Sands Holdings, Slashes Estimate ...

 · In the tar sands/oil sands, "the company''s reserves of the dense, heavy crude extracted from Western Canada''s sandy bogs dropped by 98%," the news agency adds. On the same day, The Canadian Press writes, Imperial cut its estimate of its "proved plus probable bitumen reserves" to 4.46 billion barrels, down from 5.45 billion a year ...

Cardinal Energy Ltd. Announces Strategic Acquisition

 · The reserves estimates were prepared in accordance with the standards contained in the Canadian Oil and Gas Evaluation Handbook. Supplemental Information Regarding Product Types

Financial reporting in the oil and gas industry

1 Oil and gas value chain and significant accounting issues 12 2 Upstream activities 13 2.1 Overview 13 2.2 Reserves and resources 13 2.2.1 What are reserves and resources? 13 2.2.2 Estimation 14 2.3 Exploration and evaluation 14 2.3.1 Successful efforts and …

How it''s quite possible that Canada has the world''s ...

 · Until the external reserves audits or the original Saudi Aramco reserves reports are made public, Saudi Arabia''s oil reserves must be taken with a very, very, large grain of salt. In comparison, Table 1 presents the Alberta Energy Regulator''s (AER) estimates of Alberta''s oil resources and recoverable reserves.

Oil sands

About 10% of the oil in place, or 173 Gbbl (27.5 × 10 ^ 9 m 3), is estimated by the government of Alberta to be recoverable at current prices, using current technology, which amounts to 97% of Canadian oil reserves and 75% of total North American petroleum reserves.

CER – Where does Canada''s gasoline come from?

Refining. Complex refining processes break down the crude oil by separating light and heavy hydrocarbons. This results in a number of chemically distinct RPPs such as gasoline, diesel, jet fuel, and other fuels. Gasoline accounts for the largest portion of RPP production at Canadian refineries at 36%, followed by diesel and middle distillates (such as light fuel oil) at 33%.

ShaMaran Announces 25% Increase in ...

 · Reserves and resources: ShaMaran Petroleum Corp.''s reserve and contingent resource estimates are as at December 31, 2017, and have been prepared and audited in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook ...

Studies including oil and gas reserves estimates ...

Oil & Gas Pipeline Processing Facilities Reservoir Engineering Reservoir analysis, advanced software and project management services Studies including oil and gas reserves estimates, production and economic modelling

National Instrument NI 43-101 Report of Canada

 · National Instrument (NI) 43-101 is a Canadian mineral resource classification scheme used to disclose information about mineral properties. Foreign and domestic companies listing on stock exchanges overseen by the Canadian Securities Administration (CSA) are required to abide by the NI 43-101 rules and guidelines for displaying information related to mineral properties.

CAPP | A Unified Voice for Canada''s Upstream Oil and Gas ...

The Canadian Association of Petroleum Producers (CAPP) is the voice of Canada''s upstream oil and natural gas industry. We enable the responsible growth of our industry and advocate for economic competitiveness and safe, environmentally and socially responsible performance.

Canada''s Shale Boom: Unlocking Alberta''s Oil & Gas

 · Canada''s Shale Boom: Unlocking Alberta''s Oil & Gas. If you want to profit from North America''s shale boom, all you have to do is follow the drill rigs. Today in Alberta, Canada there are 433 ...

Resources & Reserves

The Oil Reserves statement has been reviewed and the relevant data extracted and compiled by McDaniel & Associates. The Oil Resources statements for Equatorial Guinea, Chad and Cameroon have been reviewed and the relevant data extracted and compiled by Glencore. Competent/Qualified Persons Resource and reserve estimates are based on information

CER – Estimated Production of Canadian Crude Oil and ...

Estimated Production of Canadian Crude Oil and Equivalent. For further information, contact request [email protected] 2021 (updated 30 June 2021) [EXCEL 716 KB] The data sources and calculations used are described in the Excel file on the first worksheet.

World Oil Statistics

(Data shown in the table is for 2016. Counter shows current estimate.) World Oil Reserves. See also: List of countries by Oil Reserves There are 1.65 trillion barrels of proven oil reserves in the world as of 2016. The world has proven reserves equivalent to 46.6 times its annual consumption levels.This means it has about 47 years of oil left (at current consumption levels and excluding ...

Oil reserves in Canada

 · Estimated Canadian Arctic Oil and Gas Reserves. The USGS estimates that the Amerasia Basin, which is shared by Canada and the US, holds the second biggest undiscovered oil share in the Arctic, which amounts to ca. 10 billion barrels of oil equivalent (BBOE) and is only topped by Arctic Alaska with approximately three times as much.

Oil Reserves: Definition, Categories, World''s Largest

 · Oil reserves are an estimate of how much oil can ultimately be recovered, which includes undiscovered or "yet to find" reserves. This broad definition is also called "ultimately recoverable resources." Reserve estimates are based on the probability of finding reserves in certain geological areas. It also assumes new types of technology will ...

The Strategic Petroleum Reserve and Crude Oil Prices

of crude oil supply, crude oil demand, and SPR policy has likely led to the widely varying estimates of the SPR''s e ect on the price of oil. Given these di culties, I use several structural vector autoregression (VAR) models of the U.S. oil market to estimate the e ect of SPR policy. Since Kilian (2009), structural

Bakken Formation: Will it fuel Canada''s oil industry ...

 · According to the U.S. Geological Survey (USGS), there may be as many as 503 billion barrels of oil in the Bakken Formation - a natural geological phenomenon in the region - and estimates …

The end of oil is closer than you think | Science | The ...

 · According to Campbell and other oil industry sources, the two most widely used estimates of world oil reserves, drawn up by the Oil and Gas Journal and …

Canada Oil Reserves, Production and Consumption Statistics ...

(Data shown is for 2016, the latest year with complete data in all categoreies) Oil Reserves in Canada. See also: List of countries by Oil Reserves Canada holds 170,863,000,000 barrels of proven oil reserves as of 2016, ranking 3rd in the world and accounting for about 10.4% of the world''s total oil reserves of 1,650,585,140,000 barrels. Canada has proven reserves equivalent to 188.3 times its ...

Oil Resources

Total Canadian proven oil reserves are estimated at 171.0 billion barrels, of which 166.3 billion barrels are found in Alberta''s oil sands and an additional 4.7 billion barrels in conventional, offshore, and tight oil formations. Canada accounts for 10% of the world''s proven oil reserves.

Oil & Gas Market Analysis and Trends | IHS Markit

Oil & Gas Eagle Ford The Eagle Ford Shale is located in the Gulf Coast Basin in South Texas, covering 12,000 square miles. Roughly 90 operators... All Other Lower 48 Plays. Oil & Gas All Other Lower 48 Plays IHS Markit evaluates and collects data for every producing play and basin worldwide.

Best Practices in Reserve and Resource Estimate Reporting ...

Canadian mining and oil and gas companies contemplating a U.S. listing need to know what reserve and resource estimate reporting requirements would govern their disclosure obligations in the United States given the material differences that exist between U.S. and Canadian requirements. This chapter discusses the market practices generally ...

Crude oil facts

Reserves by provinces: Alberta Energy Regulator ST98 (Alberta''s Energy Reserves and Supply/Demand Outlook) table R4.1 (Reserves and production changes in crude oil), table R4.5 (Conventional crude oil reserves as of each year-end), Canadian Association of Petroleum Producers Statistical table 2.1a (Crude Reserves) and Canada Energy Regulator

Studies including oil and gas reserves estimates ...

Studies including oil and gas reserves estimates, production and economic modelling. Sort By: 360 Energy Liability Management. Description: 360 Energy Liability Management supports their clients with a variety of liability strategy, assessment and execution services, which help their clients drive efficiencies, decrease operational costs and ...

Deloitte''s oil and gas price forecast

 · Deloitte''s oil and gas price forecast takes into account many factors, including futures market trading and historical data. Consideration is also given to global supply and demand as well as the economic outlook of world markets. This information is collected from several sources, including industry publications, exchange markets, and government agencies.

Oil reserves in Canada

Oil reserves in Canada were estimated at 179 billion barrels (28 × 10 ^ 9 m 3) in 2007.This figure includes oil sands reserves which are estimated by government regulators to be economically producible at current prices using current technology. [1] According to this figure, Canada''s reserves are third only to Venezuela and Saudi Arabia.Over 95% of these reserves are in the oil sands deposits ...

U.S. Geological Survey 2002 Petroleum Resource Assessment ...

 · For comparison, the gas cap at the Prudhoe Bay oil field contains more than 23,000 BCF, the Point Thomson gas and oil accumulation may contain more than 6,000 BCF, and a recently announced discovery in the Mackenzie River delta of Canada (about 150 miles east of the U.S.–Canada border) is estimated to contain 200 to 300 BCF recoverable reserves.

Direct Simulation of P10, P50 and P90 Reservoir Models ...

 · For the purpose of reserve estimation, National Instrument 51–101 (NI 51–101) defines P10, P50 and P90 (ROBINSON et al, 2004). P90 refers to proved reserves, P50 refers to proved and probable reserves and finally P10 refers to proved, probable and possible reserves. Based on NI 51–101 definition, P90 is less than P50, and P50 is less than ...

Crude Oil Forecast | Canadian Association of Petroleum ...

The report projects a constrained outlook for Canadian oil production from 2019 to 2035. Although production will increase by 1.27 million barrels per day (b/d) by 2035, that growth rate is about 6% less than CAPP''s 2018 forecast.. Total annual production is expected to increase by an average of 3% until 2021, then slow to an average growth rate of 1% annually.

Country Analysis Executive Summary: Canada

Does Canada Need a Strategic Petroleum Reserve? | OilPrice

Regulatory Instrument Details | ASC

 · Establishing Reserves Estimates in Oil and Gas Accumulations. Published - ASC Notice - 05/29/2013 ... 2004 on draft Canadian Oil and Gas Evaluation Handbook, Volume 2. Published - Miscellaneous - 05/31/2004 ... CIM releases proposed oil and gas reserves definitions and guidelines. Published - Miscellaneous - 02/04/2002 ...

Shell completes divestment of oil sands interests in ...

 · Notes to Editors. Pursuant to the completion of the transactions set out in this announcement, the Athabasca Oil Sands Project (AOSP) is now a joint venture between Canadian Natural Upgrading Limited (60%), Chevron Canada Limited (20%), and Marathon Oil Canada Corporation (20% which is owned 50% by a Shell-affiliate and 50% by Canadian Natural Resources Limited).

Canada''s Oil Reserves 2nd Only To Saudi Arabia

The U.S. agency estimates Saudi Arabia''s recoverable oil reserves at 264 billion bbls. The EIA projects Canadian oil sands could produce 2.2 million barrels a day by 2025 compared with the current level of about 700,000 b/d, which already represents more than a fourth of total Canadian …

Measured Canadian oil sands CO2 emissions are higher than ...

 · The oil and gas (O&G) sector represents a large source of greenhouse gas (GHG) emissions globally. However, estimates of O&G emissions rely upon bottom-up approaches, and are rarely evaluated ...

Canadian Estimated Gas Reserves Astronomical

 · Canadian Estimated Gas Reserves Astronomical. By Gordon ... and 423.6 billion bbl of oil. Even the immense current estimates of the province''s total …

Definitions and explanatory notes | Energy economics | Home

The total oil reserves estimates have been compiled using a combination of primary official sources, third-party data from the OPEC Secretariat, World Oil, Oil & Gas Journal and an Chinese reserves based on official data and information in the public domain. Canadian oil sands ''under active development'' are an official estimate.

New Technologies Open Vast Oil Reserves

 · The 25,000-square-mile Bakken Shale in the Williston basin of Montana, North Dakota, and adjoining Canadian provinces could prove to be the largest oil discovery in the world over the last 30–40 years, and could more than double current U.S. reserves. In the mid-1990s, the U.S. Geological Survey estimated the amount of technically obtainable oil in the Bakken at about 151 million barrels.