OPEC’s Annual Statistical Bulletin

The 47^th ASB is a compilation of statistical data about oil and natural gas activities in the 12 OPEC Member Countries as well as in non-OPEC oil producing countries around the world. The bulletin provides detailed time series data on different aspects of the global petroleum industry, including imports, exports, upstream and downstream projects, exploration and production activities.

Highlights

• World crude oil production increased in 2011 by 0.9%, with different regions showing heterogeneous results. Canadian, US and Middle Eastern crude production increased while Western European and African production declined. In OPEC Member Countries (MC), crude production was up 3% y on y.
• World oil consumption in 2011 increased by 0.9%, but growth was seen solely in emerging economies. OPEC MC, oil consumption increased by 2% y on y.
• Proven crude oil reserves in OPEC MC increased slightly in 2011, reaching nearly 1.2 billion bbls. OPEC’s share of reserves stood at 81% at year end.
• OPEC MC continued to play an important role in the natural gas market throughout 2011, with proven reserves of 95 020 billion m³, an increase of 0.8% y on y.
• OPEC MC refinery capacity rose by 0.7% last year.
• The bulk of crude oil exported by OPEC MC last year went to Asian and Pacific countries.
• OPED MC also exported 4.5 million bpd of petroleum products last year.

The OPEC ASB is available at www.opec.org.

Adapted from press release by Claira Lloyd.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/17072012/opec_asb_released/