World resource estimate shows more liquids, slightly less gas

Click here to enlarge imageThe world's endowment of conventional oil remains on the rise, according to a comprehensive study being released this spring by the US Geological Survey. Click here to enlarge imageThe USGS, in its 2000 World Assessment, estimates world undiscovered, conventionally-recoverable resources of oil, natural gas, and natural gas liquids at 1,634 billion bbl of oil equivalent in 2000, excluding the US. This is about 5% higher than the USGS 1994 estimate of 1,556 billion boe.The 2000 assessment reflects a 20% increase in estimate of undiscovered oil, a 130% hike in NGL, and a 14% decline in undiscovered gas.Including US undiscovered estimates, the current assessm...

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