Remaining by Region
Figure 10
Remaining by major country
Figure 11

Remaining (989 Gb)

The Remaining is the Ultimate less the Produced, or in other terms the Reserves plus the Undiscovered. It is the bottom line, namely how much is left to produce, and is the statistic we need to run the depletion model. The region with the most is of course the Middle East Gulf with 499 Gb, which is about half the total. It is followed by Eurasia with 142 Gb and then Latin America with 88 Gb. By individual country, Saudi Arabia comes first with 206 Gb, followed by the FSU (105 Gb) and Iraq (88 Gb). So far as the western world is concerned, the two leading countries are the USA with 39 Gb and Venezuela with 38 Gb. It is evident that about 70% of the world's remaining oil lies in countries that are not really part of the open market and in which the oil industry is exclusively in state hands.

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