BP Raises Estimates of Saudi Arabia’s Oil Reserves by 30 Billion Barrels
In a recent annual statistic report, BP raised oil reserve estimates for Saudi Arabia by 11% (30 billion barrels) to reach 297.7 billion barrels from 266.2 billion a year earlier. The new figure puts Saudi Arabia 6 billion barrels behind Venezuela which has the world’s largest oil reserve estimates.
The estimation increase happened as Saudi Arabia separated the estimations of oil, gas and natural gas reporting.