Abstract
Current global reserves of conventional crude oils are estimated at approximately 1,000 billion barrels (1 bn bbls = 109), while extra heavy crude oil (XHC) plus tar sand in place volumes are estimated at around 7,000 bn bbls.1 From the former estimation, Canada and Venezuela respectively, appears to be the leading countries in tar sand and XHC oil sources. Another study showed that three geographical regions in the world possess the majority of these resources.2 The combined tar sands from Canada plus the former Soviet Republics and XHC from Venezuela plus the former Soviet Republics account for more than 90% of Earth’s reserves.
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Carbognani, L., Espidel, J., Colaiocco, S. (2003). Characterization of Heavy Oils and Heavy Ends. In: Hsu, C.S. (eds) Analytical Advances for Hydrocarbon Research. Modern Analytical Chemistry. Springer, Boston, MA. https://doi.org/10.1007/978-1-4419-9212-3_14
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