How much oil reserves does BP have?

How much oil reserves does BP have?

As of 31 December 2018, BP had operations in nearly 80 countries worldwide, produced around 3.7 million barrels per day (590,000 m3/d) of oil equivalent, and had total proven reserves of 19.945 billion barrels (3.1710Γ—109 m3) of oil equivalent. The company has around 18,700 service stations worldwide.

How long is BP left in oil?

BP currently estimates that the South and Central America region has enough oil reserves to last for 136 years at current production levels.

How long will oil reserves last 2020?

The world’s oil reserves will last 53 more years at current extraction rates, according to BP’s annual report. According to BP, drivers whose vehicles rely on burning oil have a little more than a half-century to find alternate sources of energy.

How much oil and gas does BP produce?

In 2018, BP produced 772,000 barrels of oil equivalent per day in the U.S., making the company one of America’s largest oil and natural gas producers. BP also is one of the top refiners in the U.S., with the capacity to process about 760,000 barrels of crude oil every day.

How much oil is left in the world BP?

Summary Table

Oil Reserves 1,650,585,140,000 barrels
Oil Consumption 35,442,913,090 barrels per year
97,103,871 barrels per day
Reserves/Consumption 47 (years left)

Where do BP get their oil from?

Where does BP do? The company gets around a quarter of its oil and a third of its gas from the US. Another third of its oil comes through a joint venture with Russian oligarchs called TNK-BP and a third of its gas comes from South America.

Do we only have 50 years of oil left?

World Oil Reserves The world has proven reserves equivalent to 46.6 times its annual consumption levels. This means it has about 47 years of oil left (at current consumption levels and excluding unproven reserves).

Does the earth replenish oil?

β€œThey had to figure out how to make it themselves.” There was one significant drawback, however: the exorbitant cost. Twenty years ago, a natural gas plant that produced 100,000 barrels of liquid fuel per day would have cost about $100 billion to build, says Anderson.

Does BP own Amoco?

However, Amoco and BP merged in 1998, combining their worldwide operations into a single organization. In 2001, BP Amoco changed its brand to simply ‘BP’. The 2017 reintroduction of Amoco as a retail brand alongside bp is taking place in US cities with potential additional growth opportunities.