Non Conventional Resources

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According to the 2008 BP Statistical Energy Survey, the world had proved oil reserves of 1237.875 billion barrels at the end of 2007, while consuming an average of 85219.7 thousand barrels a day of oil in 2007.

ccording to the 2008 BP Statistical Energy Survey, the world had proved oil reserves of 1237.875 billion barrels at the end of 2007, while consuming an average of 85219.7 thousand barrels a day of oil in 2007. OPEC members hold around 75% of world crude oil reserves. The countries with the largest oil reserves are, in order, Saudi Arabia, Iran, Iraq, Kuwait, United Arab Emirates (UAE), Venezuela, Russia, Libya, Kazakhstan and Nigeria.

According to the 2008 BP Statistical Energy Survey, the world had proven natural gas reserves of 177.35 trillion cubic metres and natural gas production of 2939.99 billion cubic metres in 2007.
In November 2006, Wood McKenzie and Fugro Robertson reported that the USGS had overestimated Arctic oil and gas resources. Also most would be gas so that oil would amount to less than 25% of previous estimates in North American / Greenland basins.

Although the world has 3,600 billion barrels of unconventional oil reserves, these require significant energy and water to extract. Wood Mackenzie estimated the world's unconventional oil reserves as comprising heavy oil (107 billion barrels), extra heavy oil (457) and shale oil (2,800). The main sources are Canada, Venezuela, Madagascar and Texas.

According to the 2008 BP Statistical Energy Survey, the world had a 2007 refinery capacity of 87913.34 thousand barrels a day.