Latin America: Proven Oil Reserves in Region to run out by 2067

Posted on July 15, 2014 • Filed under: Latin America News, Oil

olade.orgThe company said in a recent study that the proven oil reserves of the planet added 1.68 billion barrels and current production rates to last only that long.

Future discoveries extend production achieved only about 10 or 15 years. Venezuela most 316,000 million barrels takes under his belt, beating Saudi Arabia, by far the largest oil producer in the world with reserves of 265,000 million barrels.

Others who have accumulated to his credit are Mexico (33.00 million barrels), Brazil (13,150 million), Argentina (3,000 million), Colombia (2.500 billion) and Ecuador (1.400 million) bookings.

According to a research by the Latin American Energy Organization (Olade), Argentina now has reserves for 11 years, while Brazil has oil for 18 years, Ecuador for 34, for 11 Mexico, Colombia and Venezuela for eight years for 201 years.

In this regard, the United States was one of the countries that most increased its reserves during 2013 thanks to the horizontal holdings, which enabled it to raise its proved to 44.200 million barrels, 26% more than estimated by the U.S. Energy Administration. Read Article

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