Kazakhstani proven oil reserves are estimated at 30 billion barrels

Almaty. June 10. Silkroadnews – Kazakhstani proven oil reserves are estimated at 30 billion barrels, the report “Review of world energy 2016” by BP company states, KazTAG writes.

According to BP’s annual report, at the end of 2015 the proven oil reserves of Kazakhstan made 30 billion barrels. At the same time, Kazakhstani oil production stands at 1669 thousand barrels/day, which is 1.6% lower compared to 2014. Consumption makes 271 thousand barrels/day, which is 5.4% below the level of consumption in 2014.

Oil reserves in Russia, according to the study, make 102.4 billion barrels, in Azerbaijan – 7 billion, for Uzbekistan and Turkmenistan – 0.6 billion for each.

The largest proven oil reserves belong to Venezuela (300.9 billion barrels), Saudi Arabia (266.6 billion) and Canada (172.2 billion).

The oil reserves of Iran, Iraq and Kuwait are estimated as 157.8 billion, 143.1 billion and 101.5 billion barrels respectively.

The United States has 55 billion barrels of oil, China – 18.5 billion.

With this, Russia, the U.S. and Saudi Arabia are the largest oil producers – 10980 thousand barrels/day, 12704 thousand barrels/day and 12014 thousand barrels/day respectively. It is reported that Russia has increased its production by 1.2%, the U.S. – by 8.5%, and Saudi Arabia – by 4.6%.

In Azerbaijan oil production amounted to 841 thousand barrels/day (-1%), Turkmenistan – 261 thousand barrels/day (+5%), Uzbekistan – 403 thousand barrels/day (-3.1%).

Iraq has increased its oil production the most – by 22.9% – and reached the level of 403 thousand barrels/day. The most significant decline in production has been observed in Tunisia – by 14.1% to 63 thousand barrels/day, and in Yemen – by 67.8% to 47 thousand barrels/day.

Russia is reported among the most active oil consumers. Despite a 5.2% decline in consumption its volume amounted to 3113 thousand barrels per day.

Turkmenistan consumes 146 thousand barrels/day (+1.6% compared to 2014), Ukraine – 183 thousand (-16.1%), Uzbekistan – 59 thousand (-0.1%), Azerbaijan – 99 thousand (+1,3%), Belarus – 145 (-2.4%).
Among the largest consumers there are also the U.S. (19396 thousand; +1.6%) and China (11968 thousand; +6.3%).

The highest oil consumption increase has been observed in the Philippines (by 14.3%; to 399 thousand barrels/day), Turkey (by 12.5%; to 835 thousand barrels/day) and Slovakia (by 11.3%; to 78 thousand barrels/day).

In terms of oil consumption decrease Venezuela ranks the second after Ukraine with 12.7% to 678 thousand barrels/day.