Name: MUHAMMAD FAHAD

Roll No: 26

World Oil Statistics:

 As of 2016, there are 1.65 trillion barrels of proven oil reserves in the world. The world has proven reserves
equivalent to 46.6 times its annual consumption levels.

 The world consumes 35,442,913,090 barrels of oil as of the year 2016, equivalent to 97,103,871 barrels per day.

Top 10 Producers of Oil and Gas:

1. United States: 20,213,000 barrels per day (bpd)

2. Saudi Arabia: 12,144,000 bpd

3. Russia: 10,278,370 bpd

4. Canada: 4,543,800 bpd

5. Iraq: 4,470,506 bpd

6. China: 4,089,997 bpd

7. United Arab Emirates: 3,467,870 bpd

8. Iran: 3,293,401 bpd

9. Brazil: 3,021,505 bpd

10. Kuwait: 2,825,724 bpd

Top 10 Consumers of Oil and Gas:

1. United States: 19,687,287 barrels per day (bpd)

2. China: 12,791,553 bpd

3. India: 4,443,000 bpd

4. Japan: 4,012,877 bpd

5. Russia: 3,631,287 bpd

6. Saudi Arabia: 3,302,000 bpd

7. Brazil: 2,984,000 bpd

8. South Korea: 2,605,440 bpd

9. Canada: 2,486,301 bpd

10. Germany: 2,383,393 bpd

Reservoir Status:
From a global perspective, the U.S. Energy Information Administration reported that in 2021, U.S. energy demand
rebounded from its 2020 lows caused by the COVID-19 pandemic. The average prices of both crude oil and natural gas in
the United States rose to the highest levels since 2014. Proved reserves of natural gas reported by operators established
a new record in the United States in 2021, while proved U.S. reserves of oil increased but did not quite return to pre-
pandemic levels.

Reference: https://www.eia.gov/naturalgas/crudeoilreserves/

As for Pakistan, the country ranks 29th in the world for natural gas reserves. A recent study suggests that Pakistan has
around 19 trillion cubic feet (Tcf) of proven gas reserves. The consumption rate of natural gas per year has been recorded
at 1,590,904 million cubic feet (MMcf). Pakistan exports around 3% of the natural gas produced in the country. According
to the Petroleum Division’s report, Pakistan has so far consumed 66.6% of the total gas reserves, leaving 33.4% of the
reserves untouched. As for oil, Pakistan holds 353,500,000 barrels of proven oil reserves as of 20165. However,
exploration and production (E&P) companies have not been able to ramp up gas production since 2000 and have also
failed to make major discoveries.

References:

Gas Reserves in Pakistan: Past, Present & Future | Zameen Blog

Most of Pakistan’s oil, gas reserves consumed (tribune.com.pk)

Pakistan Oil Reserves, Production and Consumption Statistics - Worldometer (worldometers.info)