World oil reserves World market of petroleum products (market oil) Oil Exporters & Importers The largest consumers of the oil market Largest oil producers of the oil market
The world proven oil reserves amount to about 140 billion tons. The largest part of the world reserves — about 64% — is in the Middle East. The second place is occupied by America, which accounts for about 15%.
The most oil-rich countries are Saudi Arabia (25% of proven world reserves), Iraq (10.8%), UAE (9.3%), Kuwait (9.2%), Iran (8.6%) and Venezuela ( 7.3%) — they are all members of OPEC, which accounts for about 78% of world reserves. Proved reserves of the CIS countries, including Russia, are about 6% of the world, the USA is about 3%, and Norway is about 1%.
However, it is worth remembering that the figures cited relate only to proven oil reserves, and do not include projected and estimated data on their value. In addition, with the development of oil exploration and oil production technologies, geological exploration can provide an increasingly accurate assessment of even the most difficult-to-reach oil deposits, and so on. the value of reserves is constantly adjusted.
The main producers of petroleum products are the USA (about 24% of the total oil refining in the world), Japan (6%), China (5.2%) and Russia (4.8%). The global volume of petroleum products produced annually reaches 3.4 billion tons.
The largest exporters of petroleum products are: Holland, Russia, Singapore, USA, Saudi Arabia, Korea, Venezuela and Kuwait, and the importers are the USA, Japan, Germany, Holland, Singapore, and France. The market volume of petroleum products is about 700 million tons per year.
Interestingly, countries such as the USA, Holland, Singapore, and China are both exporters and importers of raw materials: they import products of primary oil refining and then produce them in more deep processing, products of which are exported.
The capacity of the refining processes is dominated by the United States (about 2.27 million tons of oil per day), the countries of the former USSR (1.15 million tons / s), Japan (660 thousand tons / s) and China (595 thousand tons / with).
The countries in which the largest part of oil reserves is located and which are the main producers of oil (with the exception of the USA) are for the most part underdeveloped, with a low level of energy consumption. So they can export surplus of extracted raw materials. Developed countries whose needs for oil significantly exceed its production are the main importers of oil.
The share of OPEC countries accounts for about 40% of world supplies to the oil market. The share of the CIS countries (including Russia) in the total volume of deliveries by independent producers is about 17%. The total volume of deliveries to the world oil market is about 1.9 billion tons.
The level of world oil consumption in 2001 was about 75.8 million b / d, which is only 100 thousand b / d higher than the same figure for 2000.
Low consumption growth is associated with a downturn in a number of the most developed countries in the world: the United States, the Eurozone countries, and Japan.
According to various estimates, consumption growth in 2002 will range from 600 to 1,200 thousand b / s, which directly depends on improving the climate in the global economy, and by 2020, according to forecasts of the US Department of Energy, global consumption will increase to 120 million b. /with.
The main consumers of oil are developed countries, among which the USA is the undisputed leader: they account for about a quarter of world oil consumption, or 24 million b / s.
The United States is followed by European countries, which account for about 20% or 15.1 million b / d, and countries in the Asia-Pacific region — 11% or 8.7 million b / d. At the same time, the level of consumption in the APR has grown over the past 14 years by about 3%, while in North America and Europe it has grown by an average of only 1%. The highest consumption growth rates are in South Korea, Thailand, China, Indonesia, and India.
The share of the countries of the former USSR in world oil consumption has decreased over the past 12 years from 13% in 1988 to 5% at present. At the same time, the former socialist republics turned out to be the only region of the planet where, over a specified period, oil consumption has decreased: in general, over the past 12 years, the world has seen an increase of 16%.
The ratio of the level of production and consumption of oil in the world is the determining factor for the level of oil prices. It is obvious that in case of excess production (supply) of oil over consumption (demand), oil prices fall, and vice versa: with an excess of consumption over production, prices rise.
Below is a chart reflecting the dynamics of growth in oil consumption and production over the past 12 years.
- Saudi Arabia
In 2000, world oil production amounted to about 3.56 billion tons, which is almost 4% more than in 1999. The largest growth in production from the countries that are the largest oil producers was observed in Russia (7.1%), Norway (6.6%), Iraq (6.2%) and Saudi Arabia (7.2%). At the same time, in the United States, oil production fell by 1%.
Iran’s proven oil reserves account for about 9% of the world or 12 billion tons. Currently, the country produces about 3.7 million barrels per day of oil, with a daily consumption of about 1.1 million barrels. The main importers of Iranian oil are Japan, South Korea, the United Kingdom, and China.
The main oil fields in Iran are Hajaran, Maroon, Avaz Banjistan, Aga Jari, Raj-i-Safid and Pars. About 1 million b / s is extracted from offshore oil fields, the largest of which are Dorud-1, Dorud-2, Salman, Abuzar and Forsan.
In the future, the Iranian Oil Ministry plans large-scale development and development of existing offshore fields.
Iran occupies an exceptionally advantageous position from a geopolitical and strategic point of view for laying routes for the transportation of oil, which makes it possible to significantly reduce the cost of delivering raw materials to world markets.
The refining capacity in the country is about 200 thousand tons of oil per day. The main refineries are Abadan (65 thousand tons / s), Isfahan (34 thousand tons / s), Bandar Abbas (30 thousand tons / s) and Tehran (29 thousand tons / s).
Iranian oil and gas industries are under the full control of the state. The State Oil Company — National Iranian Oil Company (NIOC) conducts the exploration and development of oil and gas fields, is engaged in the processing and transportation of raw materials and oil products. Resolving issues of petrochemical production is entrusted to the National Petrochemical Company (NPC — National Petrochemical Company).
Iraq ranks second in the world in proven oil reserves, second only to Saudi Arabia. The volume of proven oil reserves in Iraq is about 15 billion tons and forecasted — 29.5 billion.
Iraq currently has no production quota. The export of its oil is regulated by UN sanctions, which were introduced after the Gulf War in 1991. The United Nations Oil-for-Food Program aims to provide the country with food and medicine, as well as to pay reparations.
Now Iraq’s oil production is 1.5-2 million b / d. However, if the UN sanctions are lifted, it can reach the level of production of 3 million b / d within one year, in 3-5 years — by 3.5 million b / d. The level of daily oil consumption in the country is about 600 thousand b / d. With a full load of its pipelines, Iraq is able to export 1.4-2.4 million b / s.
The main fields of the country are Mejnun with proven reserves of about 2.7 billion tons of oil and West Qurna — 2 billion. The East Baghdad fields (1.5 billion tons) and Kirkuk (1.4 billion tons) also have the most promising reserves.
The main oil producing company in the country is the Iraqi State Oil Company (Irag National Oil Company), autonomously operating companies are subordinate to it:
- State Company of Oil Projects (State Company for Oil Projects — SCOP), responsible for work related to the development of upstream (oil exploration and production) and downstream (transportation, marketing, and marketing) projects;
- Oil Exploration Company (OEC), responsible for exploration and geophysical work;
- The State Organization for Oil Marketing (SOMO), which deals with oil trading, in particular, is responsible for relations with OPEC;
- Iraqi Oil Tankers Company (IOTC) — a transport tanker company;
- Northern (Northern Oil Company — NOC) and Southern (Southern Oil Company — SOC) oil companies.
Mexico is one of the largest oil producers in the world, its proven oil reserves are estimated at 4 billion tons. In terms of production, which is now about 3.5 million b / d, Mexico has overtaken Venezuela, and rightfully occupies a leading position in Latin America. About half of the oil produced in the country is exported, primarily to the United States.
More than half of the oil is produced on the shelf in Campeche Bay.
An important achievement of the oil industry has been the rapid development of the oil refining and petrochemical industries, which today are the main sectors of the Mexican manufacturing industry.
The main refineries are located on the Gulf Coast. In recent years, along with the old centers — Reynosa, Ciudad Madero, Poza Rica, Minatitlan — new Monterrey, Salina Cruz, Tula, Cadorette was put into operation.
According to the law of 1993 on foreign investments, the exclusive rights to explore and develop oil fields in the country remain with the state, and above all with the state-owned company Pemex. When Pemex operates the Mexican Petroleum Institute, which conducts research work.
Norway’s proven oil reserves are estimated at 1.4 billion tons and are the largest among Western European countries. Daily oil production reaches 3.4 million barrels. Of these, about 3 million b / s is exported.
Most of the oil is produced by Norway on the shelf deposits of the North Sea.
The largest fields in the country are the Statfjord, Ozeberg, Gulfax, and Ecofisk. The last major discoveries of geologists were the Norne field, discovered in 1991 in the Norwegian Sea, and Donatello in the Norwegian sector of the North Sea.
The dominant oil company in the country is Statoil, a state-owned company founded in 1973. In November 1998, Statoil signed a cooperation agreement (NOBLES) with such companies as Saga Petroleum, Elf Aquitaine, Agip, Norsk Hydro and Mobil, which envisages joint work in the Barents Sea.
In addition, the country has a private oil and gas group Saga Petroleum, currently, Saga works in such fields as Snorr, Vigdis, Tordis and Varg. In early September, Saga signed an agreement with the National Iranian Oil Company to conduct exploration in the northern part of the Persian Gulf. In addition, Saga is working in Libya (the Mabrouk field) and Namibia (the Luderitz basin).
The proven oil reserves of the United Arab Emirates are about 10% of the world — about 13.5 billion tons. Daily oil production exceeds 2.3 million barrels, of which about 2.2 million are exported. The main oil importers of the UAE are the countries of Southeast Asia, while Japan accounts for about 60% of the oil exported by the UAE.
Most of the country’s reserves are concentrated in the emirate of Abu Dhabi. The main oil fields are: in Abu Dhabi — Asab, Beb, Bu Hasa; in Dubai — Fallah, Fateh, Southwest Fateh; in Rashid Sharjah — Mubarak. The oil refining capacity of the UAE is about 39.3 thousand tons per day.
The country’s main refineries are Ruways iWum al-Nar-2.
The oil industry of the UAE is controlled by the government of the country. The state-owned oil company Abu Dhabi National Oil Company (ADNOC) includes oil producing, service and transportation companies.
Proved oil reserves in Russia amount to about 6.6 billion tons or 5% of world reserves.
The volume of oil production in the Russian Federation in 2001 was 348 million tons or 10% of the world production level, of which 147 million tons were exported.
It should be noted that now Russia, together with the CIS countries, is restoring oil production in sizes that existed in the former Soviet Union. In 1987, oil production in the USSR reached 12.6 million b / d (about 540 million tons per year), which amounted to almost 20% of world production, with a daily export volume of 3.7 million b / d (159 million . tons per year) — 15% of total exports from OPEC.
In the period from 1990 to 1996, oil production in Russia decreased by 40%, and in 1998 reached its minimum — 6.2 million b / s (266 million tons per year), which amounted to 8.3 % of world production. Oil exports in 1998 amounted to 2.3 million b / s (about 100 million tons per year) — 7.5% of total exports from OPEC.
The recovery of the domestic oil industry began in 1999. As a result of the economic crisis that occurred in Russia in 1998 and the devaluation of the ruble that followed, the cost of oil production significantly decreased, which, coupled with high prices on the world oil market, sharply increased the attractiveness of investments in the oil business: only in 2000, the volume of capital investments in the industry amounted to 129.1 billion rubles, which is 2.6 times higher than the 1999 figure.
Today, Russia is one of the largest oil producers in the world, it ranks third in terms of production volumes after Saudi Arabia and the United States.
Together with other CIS countries, Russia provides about 10% of the total supply to the world oil market. However, so far Russia is far from the production levels of 1990: now it produces about 7 million b / s against 10 million b / d in 1990.
At current production growth rates, by 2005 Russia can bring its level to 8.5 million. b / s, which will be 11% of the total oil production in the world, and the volume of exports — up to 5 million b / d, or 15% of the total volume of deliveries from OPEC countries.
The level of oil consumption in Russia is extremely low: its per capita rate is 1.8 times lower than in the countries of the European Union, 3 times lower than in Canada, and 3.5 times lower than in the United States. In terms of oil consumption, Russia is now at the level of Western Europe in the early 60s or the United States of the 20s. In quantitative terms, oil consumption in Russia is about 2.5 million b / d, by 2005 it could grow to 2.6 million b / d.
About 2,000 oil and gas fields have been discovered in Russia, the largest of which is located on the Sakhalin, Barents, Kara and Caspian seas. Most of the proven oil reserves are concentrated in Western Siberia and in the Urals Federal District. In Eastern Siberia and the Far East, oil is practically not produced.
The oldest and most depleted areas of oil production in Russia are the Ural-Volga region, the North Caucasus and Sakhalin Island. The fields of Western Siberia and the Timan-Pechora region have been discovered relatively recently and are at the very peak of their development.
The fields of Eastern Siberia and the Far East (with the exception of Sakhalin Island), as well as the shelves of the Russian seas, are in the initial stage of development.
The most promising in terms of production are the Evenk AO (Yurubcheno-Takhomsky oil and gas zone), the Republic of Sakha (Sredneobinsky and Talakansky oil and gas fields), the Irkutsk Region (Verkhnechonskoye oil and gas field) and the Krasnoyarsk Territory.
The total oil production at these facilities by 2020 could reach 60 million tons per year. However, the development of these resources requires large investments.
Despite the decline in oil production and refining over the past decade, Russia remains one of the leading exporters of oil and petroleum products. It accounts for about 7% of the global refining capacity. Unfortunately, this potential is not being fully realized: Russia’s share in terms of the volume of refined oil has decreased from 9% of the world total in 1990 to 5% at present.
In terms of the scale of actual refining, Russia moved from second place after the United States to fourth, leaving behind Japan and China. And in terms of consumption of petroleum products per capita, Russia is now in 14th place in the world, yielding, in addition to developed countries, to such states as Nigeria. In addition, domestic refineries are very worn out, the equipment on them is outdated.
In terms of depreciation of fixed assets, oil refining is leading in the domestic fuel and energy complex, with an average depreciation rate of 80%.
A significant obstacle for Russia in the way of increasing the share of supplies to the world oil market is limited transport capacity.
The main trunk pipelines of Russia are focused on the old production areas, and the transport scheme connecting new promising fields with consumers is not sufficiently provided. However, as a result of the commissioning in 2001 of two new pipeline systems — the Caspian Pipeline Consortium (CPC) and the Baltic Pipeline System (BTS) — additional export routes will appear through the Baltic and the Black Sea.
The Russian oil complex includes 11 large oil companies, which account for 90.8% of the total oil production in the country, and 113 small companies, whose production volume is 9.2%. Oil companies of Russia carry out a full range of oil operations — from exploration, production, and refining of oil to its transportation and marketing of petroleum products.
The largest Russian oil companies are LUKOIL, YUKOS, TNK, Surgutneftegaz, Sibneft, Tatneft, Rosneft, Slavneft and Sidanko.
Saudi Arabia ranks first in the world in terms of oil production, its daily level exceeds 8 million barrels. Saudi Arabia’s proven oil reserves are about 35 billion tons, which is almost a quarter of the world’s proven oil reserves.
At the same time, oil and oil products are the main export item of the country, making it highly dependent on the main consumers (developed countries) and world oil prices. Revenues from oil exports account for about 90% of the budget revenues. Saudi Arabia is a major oil importer to the United States and Japan.
In total, Saudi Arabia has about 77 oil and gas fields. The largest fields are Gavar — the world’s largest oil field onshore, with reserves estimated at 9.6 billion tons of oil — and Safania is the world’s largest offshore field with proven reserves of about 2.6 billion tons. In addition, such large deposits as Nazhd, Berry, Manifa, Zuluf, and Shaykh are located in the country.
The country has large refining capacity — about 300 thousand tons of oil per day. The main refineries are Aramco-Ras Tanura (41 thousand tons / s), Rabig (44.5 thousand tons / s), Aramco-Mobile-Yanbu (45.5 thousand tons / s), and Petromin / Shell- Al-Jubail (40 thousand tons / s).
The country’s oil industry is nationalized, and the oil industry is governed by the Supreme Petroleum Council (Supreme Petroleum Council). The largest oil company — Saudi Arabian Oil Co. (Saudi Aramco), petrochemical — Saudi Basic Industries Corp. (SABIC).
The United States is the largest consumer of oil in the world. The daily level of oil consumption in the country is about 23 million barrels (or almost a quarter of the world total), while about half of the oil consumed in the country is accounted for by motor vehicles.
Over the past 20 years, the level of oil production in the United States has declined: for example, in 1972 it was 528 million tons, in 1995 — 368 million tons, and in 2000 — only 350 million tons, which is a consequence of the increased competition between US producers and importers of cheaper foreign oil. Of the 23 million b / s consumed in the United States, only 8 million b / d is extracted, and the rest is imported.
At the same time, the United States continues to occupy second place in the world in terms of the volume of oil produced (after Saudi Arabia). Proved US oil reserves are about 4 billion tons (3% of world reserves).
Most of the country’s explored deposits are located on the shelf of the Gulf of Mexico, as well as off the Pacific Coast (California) and the shores of the Arctic Ocean (Alaska). The main mining areas are Alaska, Texas, California, Louisiana, and Oklahoma. Recently, the share of oil produced on the sea shelf, primarily in the Gulf of Mexico, has increased.
Exxon Mobil and Chevron Texaco are the largest oil corporations in the country.
The main oil importers to the United States are Saudi Arabia, Mexico, Canada, and Venezuela. The United States is strongly dependent on OPEC policy, and that is why they are interested in an alternative source of oil, which Russia can become for them.