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Oil Reserves

Definition

Oil reserves denote the amount of crude oil that can be technically recovered at a cost that is financially feasible at the present price of oil. Hence reserves will change with the price, unlike oil resources, which include all oil that can be technically recovered at any price. Reserves may be for a well, for a reservoir, for a field, for a nation, or for the world. Different classifications of reserves are related to their degree of certainty.

Oil Reserves

What is 'Oil Reserves'

An estimate of the amount of crude oil located in a particular economic region. Oil reserves must have the potential of being extracted under current technological constraints. For example, if oil pools are located at unattainable depths, they would not be considered part of the nation's reserves.

Reserves are calculated based on a proven/probably basis.

Explaining 'Oil Reserves'

Saudi Arabia, Kuwait, Iran, Iraq, Venezuela, Russia, Mexico and Canada are some of the world leaders in oil reserves. Canada has over 150 billion barrels of oil reserves, a large portion of which is concentrated in the Alberta oil sands. If the rate of technological improvement exceeds the rate of extraction, national oil reserves will increase.


Further Reading

Oil and gas reserves: Communication with the financial sectorOil and gas reserves: Communication with the financial sector
ora.ox.ac.uk [PDF]
… Oil and Gas Reserves: Communication with the Financial Sector 5 … reserves additions are due to new discoveries, purchases of reserves, revision to reserves in currently … The 'reserve replacement' ratio compares net additions to depletion by production: a falling ratio would …

Oil prices and the stock prices of alternative energy companiesOil prices and the stock prices of alternative energy companies
www.sciencedirect.com [PDF]
… Oil and Gas Reserves: Communication with the Financial Sector 5 … reserves additions are due to new discoveries, purchases of reserves, revision to reserves in currently … The 'reserve replacement' ratio compares net additions to depletion by production: a falling ratio would …

Agency costs of free cash flow, corporate finance, and takeoversAgency costs of free cash flow, corporate finance, and takeovers
www.jstor.org [PDF]
… Oil and Gas Reserves: Communication with the Financial Sector 5 … reserves additions are due to new discoveries, purchases of reserves, revision to reserves in currently … The 'reserve replacement' ratio compares net additions to depletion by production: a falling ratio would …

Oil in parallax: Scarcity, markets, and the financialization of accumulationOil in parallax: Scarcity, markets, and the financialization of accumulation
www.sciencedirect.com [PDF]
… Oil and Gas Reserves: Communication with the Financial Sector 5 … reserves additions are due to new discoveries, purchases of reserves, revision to reserves in currently … The 'reserve replacement' ratio compares net additions to depletion by production: a falling ratio would …

Discretionary disclosure of reserves by oil and gas companies: an economic analysisDiscretionary disclosure of reserves by oil and gas companies: an economic analysis
onlinelibrary.wiley.com [PDF]
… Oil and Gas Reserves: Communication with the Financial Sector 5 … reserves additions are due to new discoveries, purchases of reserves, revision to reserves in currently … The 'reserve replacement' ratio compares net additions to depletion by production: a falling ratio would …

Risk factors in stock returns of Canadian oil and gas companiesRisk factors in stock returns of Canadian oil and gas companies
www.sciencedirect.com [PDF]
… Oil and Gas Reserves: Communication with the Financial Sector 5 … reserves additions are due to new discoveries, purchases of reserves, revision to reserves in currently … The 'reserve replacement' ratio compares net additions to depletion by production: a falling ratio would …

Oil price dynamics, macro-finance interactions and the role of financial speculationOil price dynamics, macro-finance interactions and the role of financial speculation
www.sciencedirect.com [PDF]
… Oil and Gas Reserves: Communication with the Financial Sector 5 … reserves additions are due to new discoveries, purchases of reserves, revision to reserves in currently … The 'reserve replacement' ratio compares net additions to depletion by production: a falling ratio would …

Proved or probable oil reserves: does it matter? An empirical study on Canadian oil and gas companiesProved or probable oil reserves: does it matter? An empirical study on Canadian oil and gas companies
search.proquest.com [PDF]
… Oil and Gas Reserves: Communication with the Financial Sector 5 … reserves additions are due to new discoveries, purchases of reserves, revision to reserves in currently … The 'reserve replacement' ratio compares net additions to depletion by production: a falling ratio would …

Gulf cooperation council oil exporters and the future of the dollarGulf cooperation council oil exporters and the future of the dollar
www.tandfonline.com [PDF]
… Oil and Gas Reserves: Communication with the Financial Sector 5 … reserves additions are due to new discoveries, purchases of reserves, revision to reserves in currently … The 'reserve replacement' ratio compares net additions to depletion by production: a falling ratio would …

Corruption, reconstruction and oil governance in IraqCorruption, reconstruction and oil governance in Iraq
www.tandfonline.com [PDF]
… Oil and Gas Reserves: Communication with the Financial Sector 5 … reserves additions are due to new discoveries, purchases of reserves, revision to reserves in currently … The 'reserve replacement' ratio compares net additions to depletion by production: a falling ratio would …


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Section 508

WCAG 2.0

Section 508