August 3, 2014

53.3 Years of Oil Left - According to BP


BP publishes a statistical review of world energy every year.  Here is BP's webpage on oil reserves showing only 53.3 years of oil production remaining. 

Oil reserves

Total world proved oil reserves reached 1687.9 billion barrels at the end of 2013
Sufficient to meet 53.3 years of global production. The largest additions to reserves came from Russia, adding 900 million barrels and Venezuela adding 800 million barrels. OPEC members continue to hold the majority of reserves, accounting for 71.9% of the global total. South & Central America continues to hold the highest R/P ratio. Over the past decade, global proved reserves have increased by 27%, or over 350 billion barrels.


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