Report By staff [13/02/13]
The lives of people, all over the world, are affected and the destiny of nations are determined by the result of oil explorations.
Recently the Prime Minister of Uganda asserted that '...Oil is a strategic resource that contributes to economic opportunity and energy security for the global market. Oil plays a dominant role in meeting the world's energy needs, and this situation is expected to continue for decades to come.' He said this because of the World Energy Outlook of IEA (International Energy Agency) for 2009, which expects world oil demand to grow by 1% per year until 2030.
In other words, hydrocarbon exploration is critical to the world's industrial development. In view of this, Cast News takes a look at the top fifteen countries that produce the most oil on a daily basis in 2011.
The following are the recently available data from the EIA (Energy Information Administration) of the US Department of Energy.
1. Saudi Arabia
Saudi Arabia has largest proven oil reserves (almost one-fifth of the world's reserves), and it is the largest producer and exporter of total petroleum liquids in the world.
Saudi Arabia is ranked second in crude oil production in 2011. It is a key oil supplier to the United States, Europe, and Asia.
Total Oil Production: 11, 153, 020 barrels per day (bpd)
Crude Oil Production: 9, 458, 360 bpd
Proven reserves: 262.60 billion barrels
2. Russia
Russia was the largest producer of crude oil in 2011. During the year, crude oil production averaged about 9.8 million bpd.
Russia holds the largest natural gas reserves in the world, and is the largest producer and exporter of dry natural gas. It has the ninth-largest crude oil reserves and the second-largest coal reserves.
Total Oil Production: 10, 228, 520 bpd
Crude Oil Production: 9, 773, 520 bpd
Proven reserves: 60.00 billion barrels (ranked 8th)
3. United States
United States was the largest consumer of petroleum in 2011 and had the highest refinery capacity of 17, 736, 000 bpd.
United States had the third largest crude oil production in 2011. It is ranked 89th in proven reserves.
Total Oil Production: 10, 135, 630 bpd
Crude Oil Production: 5, 651, 960 bpd
4. China
China is the world's second-largest consumer of oil behind the United States, and the second-largest net importer of oil as of 2009.
China's largest oil fields are mature and production has peaked, leading companies to focus on developing largely untapped reserves in the western interior provinces and offshore fields.
It is ranked 13th in proven reserves and had the fourth largest crude oil production of 2011.
Total Oil Production: 4, 288, 690 bpd
Crude Oil Production: 4, 058, 690 bpd
Proven reserves: 20.35 billion barrels
5. Iran
Iran holds the world’s fourth-largest proven oil reserves and the world’s second-largest natural gas reserves. International sanctions and unfavorable investment terms, however, have impeded developments across the energy sector.
Iran is OPEC’s second-largest oil producer and the third-largest crude oil exporter in the world.
In 2010, it was the world’s fourth largest producer and third largest consumer of natural gas
Total Oil Production: 4, 234, 120 bpd
Crude Oil Production: 4, 054, 000 bpd (ranked 5th)
Proven reserves: 137.01 billion barrels
6. Canada
Canada's unconventional oil sands are a significant contributor to the recent and expected growth in the world's liquid fuel supply and comprise the vast majority of the country's proven oil reserves, which rank third globally.
Canada is the world's third-largest producer of dry natural gas and the source of most U.S. natural gas imports. It has the third largest proven oil reserves.
Total Oil Production: 3, 599, 970 bpd
Crude Oil Production: 2, 904, 160 bpd (ranked 6th)
Proven reserves: 175.21 billion barrels
7. United Arab Emirates
The United Arab Emirates has the seventh-largest proved reserves of both crude oil and natural gas.
Enhanced oil recovery techniques continued to underpin strong crude oil production totals in 2011, when the UAE produced 2.69 million barrels per day, and are an important strategy for extending the life of the country's aging oil fields.
Total Oil Production: 3, 087, 850 bpd
Crude Oil Production: 2, 679, 180 bpd (ranked 7th)
Proven reserves: 97.80 billion barrels
8. Mexico
Mexico is a major non-OPEC oil producer and among the largest sources of U.S. oil imports. Mexico's oil production has declined in recent years, as has its position as a net oil exporter to the United States. It is a net importer of natural gas, mostly via pipeline from the United States, and its natural gas demand is rising due to greater use of the fuel for power generation.
Total Oil Production: 2, 959, 470 bpd
Crude Oil Production: 2, 596, 230 bpd (ranked 9th)
Proven reserves: 10.42 billion barrels (ranked 16th)
9. BrazilBrazil was the largest producer of liquid fuels in South America in 2011.
Brazil has experienced rapidly expanding oil, natural gas, and electricity consumption in recent years.
Total Oil Production: 2, 686, 780 bpd
Crude Oil Production: 2, 105, 410 bpd (ranked 13th)
Proven reserves: 12.86 billion barrels (ranked 14th)
10. Kuwait
Kuwait, an OPEC member country, is one of the world’s top producers and exporters of crude oil.
It has the world’s sixth largest oil reserves and is one of the ten largest exporters of total oil products.
Kuwait has recently become a net importer of natural gas, leading the country to focus more on natural gas exploration and development for domestic consumption.
Total Oil Production: 2, 681, 890 bpd
Crude Oil Production: 2, 530, 140 bpd (ranked 11th)
Proven reserves: 104.00 billion barrels
11. Iraq
Despite enormous oil reserves Iraq’s oil sector is constrained by the lack of investment resulting from years of sanctions and wars.
It may be one of the few places left where vast oil reserves have barely been exploited.
Iraq’s natural gas sector is believed to contain significant untapped resources which the Government of Iraq would like to develop for domestic consumption and export.
Total Oil Production: 2, 634, 580 bpd
Crude Oil Production: 2, 625, 680 bpd (ranked 8th)
Proven reserves: 115.00 billion barrels (ranked 5th)
12. Nigeria
Nigeria's hydrocarbon resources are the mainstay of the country's economy, but development of the oil and natural gas sectors is often constrained by instability in the Niger Delta. For the last nine years, the U.S. has imported between 9-11 percent of its crude oil from Nigeria; however, U.S. import data for the first half of 2012 show that Nigerian crude is down to a 5 percent share of total U.S. crude imports.
Nigerian LNG exports to the U.S. substantially declined in 2011, while the country's LNG exports to Japan more than tripled in 2011.
Total Oil Production: 2, 553, 460 bpd
Crude Oil Production: 2, 550, 350 bpd (ranked 10th)
Proven reserves: 37.20 billion barrels (ranked 10th)
13. Venezuela
Venezuela contains some of the largest oil and natural gas reserves in the world. It consistently ranks as one of the top suppliers of oil to the U.S.Venezuela was the world's eighth-largest net oil exporter in 2010, and has the second-largest natural gas reserves in the Western Hemisphere.
Total Oil Production: 2, 470, 080 bpd
Crude Oil Production: 2, 240, 000 bpd (ranked 12th)
Proven reserves: 211.17 billion barrels (ranked 2nd)
14. Norway
Norway is the largest oil producer and exporter in Western Europe, and the second largest exporter of natural gas after Russia, and ranks fourth in world natural gas production.
Total Oil Production: 2, 007, 350 bpd
Crude Oil Production: 1, 752, 240 bpd (ranked 15th)
Proven reserves: 5.67 billion barrels (ranked 21st)
15. Algeria
Algeria's economy is heavily reliant on its hydrocarbons sector. It is a significant producer and exporter of natural gas and liquefied natural gas (LNG).
Algeria is an important oil exporting country and a member of the Organization of Petroleum Exporting Countries (OPEC).
SOURCE: Energy Information Administration (EIA) a division of the US Department of Energy.
15. Algeria
Algeria is an important oil exporting country and a member of the Organization of Petroleum Exporting Countries (OPEC).
Total Oil Production: 1, 861, 150 bpd
Crude Oil Production: 1, 540, 000 bpd (ranked 17th)
Proven reserves: 12.20 billion barrels (ranked 15th)SOURCE: Energy Information Administration (EIA) a division of the US Department of Energy.
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