Yangon Technological University

Department of Petroleum Engineering

World Oil & Gas Supply

and
Demand
Submitted on : 21 June, 2019
Introduction

• High oil prices induce more discoveries which increase the

amount of Proven Reserves
• 242 oil and gas discoveries were made globally in 2011
• 45 % less than that in 2009
• Increase in exploration activities in technically challenging
areas,
1. Deep offshore and ultra-deep offshore areas and the Arctic
2. A lack of required technical equipment,
3. Environmental protests, and government restrictions 2
 Oil Reserves

Oil Reserve
Part of oil in place Oil reserves calculated
which can be to be at least 50
produced under percent likely to be
current economic and Proven Reserves Probable Reserves recovered by drilling
technical conditions but higher than 10
without reasonable percent
doubt.
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Oil Reserves

Figure 1: World distsribution of oil proven reserves

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Oil Reserves

• To measure the expected

life of oil reserves, a ratio of proven
reserves to annual production is calculated given certain
assumptions.
• These assumptions include
1. Constant rate of production
2. Stagnant oil demand
3. No additional discoveries
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World Oil Supply and Demand

Figure 2: Supply and Demand for 4 years

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Proven Gas Reserves

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World Oil Supply and Demand

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 Conclusion

• In the energy mix, oil and gas will remain the main forms of energy in the
future
• Traditionally, the United States has been the major oil and gas producer and
consumer.
• Oil and gas from the Middle East and the Arabian Gulf in particular
have noticeably increased over the years.
• From the consumption side, new emerging economies such as China and
India show high oil and gas consumption rates in recent years
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Thank YOU!!!

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