Reports that the United States became the new world leader by volume of recoverable oil reserves, looks as attempt a speculative effect on the market”, said the head of the Ministry of natural resources of Russia Sergey Donskoy. “It is ridiculous to talk about leadership of the USA compared to Saudi Arabia, confidently takes the second place with the perfect quality oil, and Venezuela is the obvious leader in open, that is, proven reserves, even the low profitability of oil production,” wrote the Minister on his page in the network Facebook.
According to the Minister, currently there is no confirmed evidence of a sharp increase in the oil reserves of the United States, and the study of the Norwegian company Rystad Energy, which announced the change of leadership, “apples are added to oranges”.
According to estimates by Rystad Energy, the total amount of recoverable oil in the U.S. is about 264 billion barrels, while reserves of Russia does not exceed 256 billion barrels., and the reserves of Saudi Arabia — 212 billion bbl.), of which about half are the shale oil. Only deposits Texas the Norwegians was estimated at 60 billion barrels., this is more than in all of Kuwait (52 billion bbl.). Moreover, Rystad Energy predicts that the United States can also increase the recoverable oil reserves due to the discovery of new shale deposits.
According to Donskoy, the development technologies of unconventional fields are still under development and their real development is highly dependent on the level of world oil prices. Therefore, on the state balance sheet of reserves of such underground storage — despite their “enormous resource potential” — until you put in relatively small volumes.” And take into account the holdings of the us fields is simply incorrect.
“With regard to unconventional oil reserves in the United States, the economy of their production, unlike Russia, is heavily dependent on oil prices. We are already seeing a reduction in the production of tight oil and the massive bankruptcy of independent companies involved in the development of such deposits. Thus, estimates of proved unconventional reserves in the U.S. will be lower than the figures announced Rystad Energy and depends on oil prices,” — said the Minister of natural resources.