Russian oil and gas reserves jump most in BP league table

Wed Jun 10, 2015 8:15am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Russia adds 10 billion barrels to reserves

* U.S. overtakes Russia as top energy producer

* BP says big picture remains one of "abundant reserves"

By Ron Bousso and Dmitry Zhdannikov

LONDON, June 10 (Reuters) - Russia added the most oil and gas reserves during the past year while the United States overtook it as the top energy producer, oil company BP said on Wednesday in its benchmark annual review of world energy.

The BP Statistical Review of World Energy, first published in 1951 and considered an industry handbook, showed Russia added as much as 10 billion barrels of reserves, enough to supply the world for more than 100 days.

The review also showed that world oil demand grew by just 843,000 barrels per day last year, the slowest pace in 14 years outside U.S. recessions. (

Russian reserves jumped above 100 billion barrels for the first time with BP estimating proved reserves at 103 billion, up from 93 billion in the 2013 review, which is based on primary official sources, third party data and independent estimates.

"The big picture remains one of abundant reserves, with new sources of energy being discovered more quickly than they are consumed. Total proved reserves of oil and gas in 2014 were more than double their level in 1980, when our data begin," BP said.   Continued...