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LequteMan
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Nigeria’s crude oil reserve has been stagnant since the past three years at 37 billion barrels it achieved in 2010 while Libya sustained its lead as Africa’s highest reserve.
Organisation of Petroleum Exporting Countries (OPEC) in its 2012 latest report also disclosed that Venezuela with 297.7 billion barrels has surpassed Saudi Arabia’s 265.9 billion barrels. Venezuela’s output jumped from 211.2 billion barrels it recorded in 2010.
Oil reserves are the amount of technically and economically recoverable oil. Reserves may be for a well, for a reservoir, for a field, for a nation, or for the world. Different classifications of reserves are related to their degree of certainty. The total estimated amount of oil in an oil reservoir, including both producible and non-producible oil, is called oil in place.
Source: Daily Trust
See more:
http://www.dailytrust.info/index.ph...geria-s-oil-reserve-remains-stagnant-at-37bbl
Organisation of Petroleum Exporting Countries (OPEC) in its 2012 latest report also disclosed that Venezuela with 297.7 billion barrels has surpassed Saudi Arabia’s 265.9 billion barrels. Venezuela’s output jumped from 211.2 billion barrels it recorded in 2010.
Oil reserves are the amount of technically and economically recoverable oil. Reserves may be for a well, for a reservoir, for a field, for a nation, or for the world. Different classifications of reserves are related to their degree of certainty. The total estimated amount of oil in an oil reservoir, including both producible and non-producible oil, is called oil in place.
Source: Daily Trust
See more:
http://www.dailytrust.info/index.ph...geria-s-oil-reserve-remains-stagnant-at-37bbl