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UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
US crude oil reserves at start of 2013 highest level since 1976
The US Energy Information Administration (EIA) reports that US crude oil proved reserves rose for the fourth consecutive year in 2012, increasing by 15% to 33bn barrels. US crude oil and lease condensate proved reserves were the highest since 1976, and the 2012 increase of 4.5bn barrels was the largest annual increase since 1970, when 10bn barrels of Alaskan crude oil were added to US proved reserves. Contributing factors to higher crude oil reserves include increased exploration for liquid hydrocarbons, improved technology for developing tight oil plays, and sustained high historical crude oil prices, according to the EIA.
News Item details
Journal title: Petroleum Review
Countries: USA -
Subjects: Oil, Exploration and production, Reserves, Oil reserves
