Barrels per calendar day (b/cd): the total number of barrels processed in a refinery within 24 hours, reflecting all operational limitations, e.g. routine inspections, maintenance, repairs etc.
Barrels per stream day (b/sd): the number of barrels of input that a refining facility can process within 24 hours, operating at full capacity under optimal crude and product slate conditions.
Biofuels: transportation fuels derived from biomass, including fuel ethanol and biodiesel, whereby these fuels are usually blended with petroleum fuels. Ethanol is an alcohol made by fermenting starch or sugar, notably from (corn) grains and sugar cane. Biodiesel is made primarily from vegetable oils (e.g. palm oil, soybean oil) or from other oily sources (such as waste cooking grease).
Completion: the installation of permanent equipment for the production of oil or gas.
Composite barrel: a consumption weighted average of retail prices (including taxes) of the main groups of petroleum products.
Crude oil: a mixture of hydrocarbons that exists in a liquid phase in natural underground reservoirs and remains liquid at atmospheric pressure after passing through surface separating facilities. For statistical purposes, volumes reported as crude oil include:
1. liquids technically defined as crude oil
2. small amounts of hydrocarbons that exist in the gaseous phase in natural underground reservoirs, but which are liquid at atmospheric pressure after being recovered from oil well (casing head) gas in lease separators
3. small amounts of non-hydrocarbons produced with the oil
4. very heavy and extra-heavy crude oils with viscosity less than 10,000 mPa.s (centipoises) at original reservoir conditions.
Distillates: middle distillate type of hydrocarbons; includes products similar to number one and number two heating oils and diesel fuels. These products are used for space heating, diesel engine fuel and electrical power generation.
Dry hole: a well found to be incapable of producing either oil or gas in sufficient quantities to justify completion as an oil or gas well.
Exports of petroleum products: excludes international air and marine bunkers.
Gasoline: a mixture of relatively volatile hydrocarbons, with or without small quantities of additives, that have been blended to form a fuel suitable for use in internal combustion engines; includes gasoline used in aviation.
Geneva I agreement: agreement of January 1972 between some OPEC Member Countries and the major international oil companies, which had the effect of establishing an index for quarterly adjustments of posted crude oil prices on the basis of the arithmetic average of the deviations of the exchange rates of nine major currencies against the US dollar. This was modified to an import-weighted index in 1978, accounting for exchange rates and inflation rate. The present ‘modified Geneva I + US dollar’ currency basket includes the US dollar, the Euro, the Japanese yen, the UK pound and the Swiss franc.
Kerosene: medium hydrocarbon distillates in the 150° to 280° C distillation range and used as a heating fuel as well as for certain types of internal combustion engines; includes jet fuel, which is a fuel of naphtha or of kerosene type, suitable for commercial or military purposes in aircraft turbine engines.
Natural gas liquids (NGLs): those reservoir gases liquefied at the surface in lease separators, field facilities or gas processing plants. NGLs consist of field condensates and natural gas plant products such as ethane, pentane, propane, butane and natural gasoline.
Natural gas: a mixture of hydrocarbon compounds and small quantities of various non-hydrocarbons existing in the gaseous phase or in solution with oil in natural underground reservoirs at reservoir conditions. The natural gas volumes refer to Standard Conditions of 60° F, 14.73 psia (15.6° C, 760 mm/Hg).
Gross production: the total flow of natural gas from oil and gas reservoirs of associated-dissolved and non-associated gas.
Marketed production: : corresponds to gross production, minus the volumes of gas flared or re-injected into fields, minus the shrinkage.
Re-injection: the total volume of natural gas produced from oil and gas completions, processed through gas-processing plants and field facilities, and used for gas lift, gas injection and cycling operations.
Shrinkage: volume shrinkage due to purification and/or extraction of natural gas liquids, gas used as input to GTL plants, lease separators, plant own consumption and any other losses caused by spillage, evaporation, etc.
Non-conventional oil: includes synthetic crude oil from tar sands, oil shale, etc., liquids derived from coal liquefaction(CTL) and gas liquefaction (GTL), hydrogen and emulsified oils (e.g. Orimulsion), non-hydrocarbon compounds added to or blended with a product to modify fuel properties (octane, cetane, cold properties, etc.) e.g. alcohols (methanol, ethanol), ethers (such as MTBE (methyl tertiary butyl ether), ETBE (ethyl tertiary butyl ether), TAME (tertiary amyl methyl ether) or esters (e.g. rapeseed or dimethylester, etc.) and chemical compounds such as TML (tetramethyl lead) or TEL (tetraethyl lead) and detergents.
Oil demand: inland delivery, including refinery fuels and losses, as well as products from gas plants; including international air and marine bunkers as well as direct crude burning.
Oil or gas well: a well completed for the production of oil or gas from one or more zones or reservoirs.
Oil supply: consists of crude oil natural gas liquids and non-conventional oil production.
OPEC Basket: the OPEC Reference Basket (ORB) price was introduced on January 1, 1987. Up to June 15, 2005, it was the arithmetic average of seven selected crudes. These were: Saharan Blend (Algeria); Minas (Indonesia); Bonny Light (Nigeria); Arab Light (Saudi Arabia); Dubai (United Arab Emirates); Tia Juana Light (Venezuela); and Isthmus (Mexico). Mexico is not a Member of OPEC. As of June 16, 2005, the ORB is calculated as a production-weighted average of the OPEC Basket of crudes. These are: Saharan Blend (Algeria); Girassol (Angola, as of January 2007); Djeno (Congo, as of June 2018), Oriente (Ecuador, as of October 19, 2007); Zafiro (Equatorial Guinea, as of 25 May, 2017); Rabi Light (Gabon, as of July 1, 2016), Iran Heavy (IR Iran); Basrah Light (Iraq); Kuwait Export (Kuwait); Es Sider (Libya); Bonny Light (Nigeria); Qatar Marine (Qatar); Arab Light (Saudi Arabia); Murban (United Arab Emirates); and Merey (Venezuela).
Output of petroleum products: the total amount of petroleum products produced from refinery input in a given period, excluding refinery fuels.
Petroleum products: products obtained from the processing of crude oil, unfinished oils, NGLs and other hydrocarbon compounds. These include aviation gasoline, motor gasoline, naphtha, kerosene, jet fuel, distillate fuel oil, residual fuel oil, liquefied petroleum gas, lubricants, paraffin wax, petroleum coke, asphalt and other products.
Proven crude oil reserves: the estimated quantities of all liquids statistically defined as crude oil. They consist of those quantities of crude oil which by analysis of geoscience and engineering data can be estimated with reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under defined economic conditions, operating methods and government regulations (source: SPE — Petroleum Resources Management System).
Proven natural gas reserves: are the estimated quantities of all hydrocarbons statistically defined as natural gas. They consist of those quantities of natural gas (associated and non-associated) which by analysis of geoscience and engineering data can be estimated with reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under defined economic conditions, operation methods and government regulations (source: SPE — Petroleum Resources Management System).
Refinery capacity (charge): the input (feed) capacity of the refinery processing facilities.
Refinery capacity (operable): the maximum amount of input to atmospheric distillation units that can be processed in an average 24-hour period.
Refinery throughput: Oil input to atmospheric distillation unit.
Residual fuel oil: fuels obtained as liquid still bottoms from the distillation of crude used alone or in blends with heavy liquids from other refinery process operations. These are used for the generation of electric power, space heating, vessel bunkering and various industrial purposes.
Rig: a derrick complete with engine-house and other equipment necessary for drilling oil and gas wells.
Well (exploratory and development): a hole drilled for the purpose of finding or producing crude oil or natural gas, or providing services related to the production of crude oil and natural gas.
(OPEC Member Countries are shown in bold.)
OECD Americas: Chile, Canada, Mexico and United States.
OECD Europe: Austria, Belgium, Czech Republic, Denmark (including Faroe Islands), Estonia, Finland, France (including Andorra and Monaco), Germany, Greece, Hungary, Iceland, Ireland, Italy (including San Marino and the Holy See), Latvia, Lithuania, Luxembourg, Netherlands, Norway (including Svalbard and Jan Mayen Islands), Poland, Portugal, Slovakia, Slovenia, Spain (including Canary Islands), Sweden, Switzerland (including Liechtenstein), Turkey and United Kingdom.
OECD Asia Pacific: Australia, Japan, Korea (Republic of), New Zealand and Other OECD Asia Pacific.
China: People’s Republic of China.
India: India.
Other Asia: Afghanistan, American Samoa, Bangladesh, Bhutan, Brunei, Cambodia, Canton and Enderbury Islands, China Hong Kong Special Administrative Regions (SAR), China Macau SAR, Cook Islands, Fiji, French Polynesia, Guam, Indonesia, Kiribati, Korea (Democratic People’s Republic of), Lao People’s Democratic Republic, Malaysia, Maldives, Micronesia Federated States of, Mongolia, Myanmar, Nauru, Nepal, New Caledonia, Niue, Pakistan, Papua New Guinea, Philippines, Samoa, Singapore, Solomon Islands, Sri Lanka, Thailand, Tonga, Tuvalu, Vanuatu, Vietnam, and Other Other Asia.
Latin America: Antigua, Argentina, Bahamas, Barbados, Belize, Bolivia, Brazil, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, Ecuador, El Salvador, Federation of St Kitts and Nevis, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua, Panama (including Panama Canal Zone), Paraguay, Peru, St Lucia, St Vincent, Suriname, Trinidad & Tobago, Uruguay, Venezuela and Other Latin America.
Middle East: Bahrain, Islamic Republic of Iran, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syrian Arab Republic, United Arab Emirates (UAE) (Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, Umm al-Qaiwain), Yemen.
Africa: Algeria, Angola, Benin, Botswana, British Indian Ocean Territory, Burkina Faso, Burundi, Cameroon (United Republic of), Cape Verde, Central African Republic, Chad, Comoros, Congo, Congo (Democratic Republic of the), Djibouti, Egypt, Equatorial Guinea, Eritrea, Eswatini, Ethiopia, Gabon, Gambia (The), Gambia (The), Ghana, Guinea, Guinea-Bissau, Côte d’Ivoire, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Reunion, Rwanda, St Helena, São Tomé and Príncipe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, Sudans (including South Sudan and Sudan), Tanzania, Togo, Tunisia, Uganda, Western Sahara, Zambia and Zimbabwe.
Russia: Russian Federation.
Other Eurasia: Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, Ukraine and Uzbekistan.
Other Europe: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Gibraltar, Malta, Montenegro, the Republic of North Macedonia, Romania and Serbia.
Organization of the Petroleum Exporting Countries (OPEC): Algeria (1969), Angola (2007), Congo (2018), Equatorial Guinea (2017), Gabon (rejoined OPEC in 2016), the Islamic Republic of Iran (1960), Iraq (1960), Kuwait (1960), Libya (1962), Nigeria (1971), Saudi Arabia (1960), United Arab Emirates (1967), Venezuela (1960).
Organization for Economic Co-operation and Development (OECD): Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Latvia, Lithuania, Luxemburg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States and Other OECD.
na Not available / not applicable
- Zero, nil or negligible
Currencies:
$ US dollar
€ Euro
DZD Algerian dinar
AOA Angolan new kwanza
XAF Central African Franc (Congo, Gabon and Equatorial Guinea)
IRR Iranian rial
IQD Iraqi dinar
KWD Kuwaiti dinar
LYD Libyan dinar
NGN Nigerian naira
SAR Saudi Arabian riyal
AED United Arab Emirates dirham
VES Bolívar soberano
Miscellaneous:
b barrel(s)
b/d barrels per day
b/cd barrels per calendar day
b/sd barrels per stream day
b/yr barrels per year
bn billion
bn b billion barrels
cif cost, insurance and freight
cu m cubic metres
dwt deadweight tonnage
fob free on board
ft feet
GDP gross domestic product
GTL Gas to liquid
LNG liquefied natural gas
LPG liquefied petroleum gas
m b million barrels
NCV net calorific value
NCF non-conventional
NOC national oil company
NGLs natural gas liquids
t tonne
Rounding: In all tables totals may not add up due to independent rounding.
Balance of import-export tables may not match due to independent assessments and usage of various secondary sources.
ADCO Abu Dhabi Company for Onshore Oil Operations
ADMA Abu Dhabi Marine Areas
ADMA-OPCO Abu Dhabi Marine Operating Company
ADNOC Abu Dhabi National Oil Company
ADOC Abu Dhabi Oil Company
Agip SpA
Agoco Arabian Gulf Oil Company (SP Libyan AJ)
Amerada Hess Amerada Hess Corporation
AOC Arabian Oil Company
Aquitaine Societe Nationale des Petroles d’Aquitaine
Aramco Saudi Arabian Oil Company (Saudi Aramco)
Arco Atlantic Richfield Company
Asamera Oil
Ashland Oil
BP plc
Braspetro Petrobras Internacional SA
Brega Petroleum Marketing Company
Buttes Gas & Oil Company
Calasiatic Petroleum Company
Caltex (PT) Caltex Pacific Indonesia
ChevronTexaco Corporation
Conoco Continental Oil Company
Corpoven SA
DPC Dubai Petroleum Company
EGPC Egyptian General Petroleum Corporation
ExxonMobil Corporation
GASCO Abu Dhabi Onshore Gas Company
Getty Oil Corporation
GOC Gabon Oil Company
Gulf Oil Corporation
Hispanoil Hispanica de Petroleos SA
INOC Iraq National Oil Company
Inpex Indonesia Petroleum Ltd
JORC Jeddah Oil Refinery Company
KRPC Kaduna Refinery & Petrochemical Company
KNPC Kuwait National Petroleum Company KSC
KOC Kuwait Oil Company KSC
Lagoven SA
Maraven SA
Maxus Energy Corporation
Mobil Oil Corporation
NIGC National Iranian Gas Company
NIOC National Iranian Oil Company
NNPC Nigerian National Petroleum Corporation
NOC National Oil Corporation (Libya)
NODCO National Oil Distribution Company (Qatar)
NPHR New Port Harcourt Refinery
Oasis Oil Company of the Libya
Occidental Petroleum Corporation
OMV Aktiengesellschaft
PDVSA Petroleos de Venezuela SA
Perenco
Pertamina Perusahaan Pertambangan Minyak Dan Gas Bumi Negara
Petroecuador National Oil Company of Ecuador
Petroindustrial Refinery operations company of Ecuador
Petromer Trend Petromer Trend Corporation
Petromin the General Petroleum and Mineral Organization of Saudi Arabia
Petroproduccion Exploration and production oil company of Ecuador
Phillips Petroleum Company
PPMC Pipeline and Products Marketing Company (Nigeria)
QGPC Qatar General Petroleum Corporation (now Qatar Petroleum)
Royal Dutch/Shell Royal Dutch Petroleum Company, The Netherlands, and Shell Transport and Trading Co, UK
Société Nationale des Pétroles du Congo (SNPC)
Sonangol Sociedade Nacional de Combustíveis de Angola
Sonatrach Entreprise Nationale Sonatrach
Stancal Standard Oil Company of California
PT Stanvac Indonesia
Tenneco Incorporated
Tesoro Indonesia Petroleum Corporation
Topco Texas Overseas Petroleum Company
Total
Union Oil Union Oil Company of California
VOO Veba Oil Operations (Libya)
Waha Oil Company (Libya)
Wintershall AG
WRPC Warri Refinery & Petrochemical Company
Zadco Zakum Development Company
ZOC Zueitina Oil Company (Libya)
Direct communications to the OPEC Secretariat
American Petroleum Institute (API)
Arab Oil & Gas
Asia Pacific Economic Cooperation (APEC)
Baker Hughes
Bloomberg
BP Statistical Review of World Energy
Brazil: Ministry of Mines and Energy
Brazil: National Agency of Petroleum, Natural Gas and Biofuels
Business Monitor International
Cambridge Energy Research Associates
Canadian Association of Petroleum Producers
Canada: National Energy Board
Canadian Energy Research Institute
Cedigaz, Natural Gas in the World
Centre for Global Energy Studies
China: National Bureau of Statistics
China: National Petroleum Corporation
Central Bank reports
Clarkson Research Studies: The Liquid Gas Carrier Register
De Golyer & MacNaughton: Twentieth Century Petroleum Statistics
Eastern Bloc Research, CIS and East European Energy Databook
Economist Intelligence Unit (EIU): country reports and database
Energy Detente
Energy Information Administration, US Department of Energy
Eurostat
Fearnleys, Annual Review
Financial Times: Oil and Gas International Yearbook
Galbraith’s Weekly Tanker Fixtures Report
Gas Exporting Countries Forum (GECF)
Haver Analytics
IHS Global Insight
IHS Cambridge Energy Research Associates (HIS CERA)
India: Ministry of Petroleum & Natural Gas
Institute Français du Petrole (IFP): The World Gas Industry
Institute of Energy Economics, Japan (IEEJ)
International Energy Agency (IEA): Energy Prices and Taxes; Energy Statistics and Balances; Monthly Oil/Gas Data Services
IEA Monthly Oil Data Service (MODS)
International Monetary Fund (IMF): International Financial Statistics, World Economic Outlook Database, Direction of Trade Statistics
Japan: Ministry of Economy, Trade and Industry
Joint Organizations Data Initiative
KPLER
Middle East Economic Survey
National Energy Administration of the People’s Republic of China (NEA)
National and international oil companies’ reports
National statistical publications
National Westminster Bank
Norway: Ministry of Petroleum and Energy
NYMEX
OECD: Trade by Commodities
OECD/IEA: Energy Balances of non-OECD countries
OECD/IEA: Energy Balances of OECD countries
OECD/IEA: Energy Statistics of non-OECD countries
OECD/IEA: Energy Statistics of OECD countries
OECD/IEA: Quarterly Energy Prices and Taxes
OECD: International Trade by Commodities Statistics
Oil & Gas Journal
Oil and Energy Trends: Annual Statistical Review
Oil Bulletin Petrolier
Organización Latinoamericana de Energia (OLADE)
Organization of Arab Petroleum Exporting Countries (OAPEC)
Petrobras
Petroleum Argus
Petroleum Economist
Petroleum Intelligence Weeky (PIW)
Petrologistics
Petrostrategies
Platts
PIRA
Port of Fujairah
Port of Rotterdam
Reuters
Rystad Energy
Secretariat’s estimates
Simpson Spence & Young: World Oil Tanker Trends
Society of Petroleum Engineers (SPE): Petroleum Resources Management System
United Nations: Energy Statistics Yearbook; Monthly Bulletin of Statistics
United Nations: National Account Statistics
Wood Mackenzie
World Bank: World Development Indicators
World LPG Gas Association
World Oil
World Petroleum Trends
Crude oil
|
Standard factors |
Metric tonne |
Long ton |
Barrels |
Cubic metres (kilolitres) |
|
Metric tonne |
1 |
0.984 |
7.33 |
1.165 |
|
Long ton |
1.016 |
1 |
7.45 |
1.128 |
|
Barrels |
0.136 |
0.134 |
1 |
0.159 |
|
Cubic metres (kilolitres) |
0.858 |
0.887 |
6.289 |
1 |
By country (b/tonne)
| Algeria | 8.052 |
| Angola | 7.233 |
| Congo | 7.157 |
| Equatorial Guinea | 7.189 |
| Gabon | 7.442 |
| IR Iran | 7.382 |
| Iraq | 7.379 |
| Kuwait | 7.276 |
| Libya | 7.537 |
| Nigeria | 7.368 |
| Saudi Arabia | 7.323 |
| United Arab Emirates | 7.565 |
| Venezuela | 6.656 |
| OPEC | 7.368 |
Petroleum products (b/tonne)
| Gasoline | 8.4998 |
| Kerosene | 7.7652 |
| Distillates | 7.2296 |
| Residuals | 6.6208 |