Norway Oil

Oil Reserves in Norway

See also: List of countries by Oil Reserves

Norway holds 5,138,767,000 barrels of proven oil reserves in the world as of 2016, ranking #22 in the world and accounting for about 0.31% of the world’s total oil reserves of 1,650,585,140,000.

Norway has proven reserves equivalent to 69 times its annual consumption levels. This means that, without Net Exports, there would be about 69 years of oil left (at current consumption levels and excluding unproven reserves).

History of Oil Reserves in Norway

Oil Consumption in Norway

See also: List of countries by Oil Consumption

• Norway consumes 204,090 barrels per day (B/d) of oil as of the year 2016.

• Norway ranks #55 in the world for oil consumption, accounting for about 0.21% of the world’s total consumption of 97,103,871 barrels per day.

• Norway consumes 1.64 gallons of oil per capita every day (based on the 2016 population of 5,235,983 people), or 598 gallons per capita per year (14 barrels). [1 barrel = 42 US Gallons]

Oil Production in Norway

See also: List of countries by Oil Production

• Norway produces 2,003,748 barrels per day of oil (as of 2016) ranking #13 in the world.

• Norway produces every year an amount equivalent to 14.23% of its total proven reserves (as of 2016).

Oil Exports

• Norway exports 69% of its oil production (1,384,574 barrels per day in 2016).

History of Oil Consumption and Production