World crude and natural gas reserves rebound in 2000

12/18/2000
Click hereto view Worldwide look at reserves and productionThis survey is in PDF format and will open in a new windowWorldwide reserves of crude oil and natural gas expanded in 2000. Crude oil reserves grew by 12.3 billion bbl, nearly erasing last year's decline while natural gas reserves reached an all-time high.This slight reserves increase occurred in concert with the replacement of the 24.5 billion bbl of crude and condensate produced during the year.Based on Oil & Gas Journal estimates gathered from an annual survey of companies and government ministries, total world reserves as of Jan. 1, 2001 are 1.028 trillion bbl of crude oil and 5.28 quadrillion cu ft of gas.Average worldwi...
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