Oil and gas reserves, oil output rise in 1996
Despite strong production gains and the absence of major discoveries, worldwide reserves of crude oil and natural gas increased in 1996. Reserves of crude oil rose by 11.4 billion bbl during the year, natural gas by 11.6 tcf, according to Oil and Gas Journal estimates based on an annual survey of companies, government ministries, and other reporting authorities. The worldwide totals as of January 1, 1997: 1.02 trillion bbl of crude oil and 4.95 quadrillion cu ft of gas. Average worldwide production of crude oil and lease condensate increased by 2.5% from its 1995 level to 63.38 million b/d, according to OGJ estimates. This paper discusses reserve trends, changes in reserves, US reserves, and production trends. The accompanying table compiles data on reserves and production in all oil and gas producing countries.
- OSTI ID:
- 415658
- Journal Information:
- Oil and Gas Journal, Journal Name: Oil and Gas Journal Journal Issue: 53 Vol. 94; ISSN 0030-1388; ISSN OIGJAV
- Country of Publication:
- United States
- Language:
- English
Similar Records
Worldwide report: oil reserves reduced, but production climbs
US oil, gas reserves stabilize in 1980