At the end of 2020, Australia had 2.4 billion barrels worth of oil reserves as opposed to 3.8 billion barrels in 2010.This was the lowest worth of oil reserves in the nation since 2010.
Total proved oil reserves in Australia from 2010 to 2020
(in billion barrels)
Characteristic
Oil reserves in billion barrels
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Proved reserves of oil are generally defined as those quantities that are indicated by geological and engineering information to be, with reasonable certainty, recovered in the future from known reservoirs under existing economic and operating conditions.
Reserves include gas condensate and natural gas liquids (NGLs) as well as crude oil.
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BP. (July 8, 2021). Total proved oil reserves in Australia from 2010 to 2020 (in billion barrels) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/666593/australia-oil-reserves/
BP. "Total proved oil reserves in Australia from 2010 to 2020 (in billion barrels)." Chart. July 8, 2021. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/666593/australia-oil-reserves/
BP. (2021). Total proved oil reserves in Australia from 2010 to 2020 (in billion barrels). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/666593/australia-oil-reserves/
BP. "Total Proved Oil Reserves in Australia from 2010 to 2020 (in Billion Barrels)." Statista, Statista Inc., 8 Jul 2021, https://www.statista.com/statistics/666593/australia-oil-reserves/
BP, Total proved oil reserves in Australia from 2010 to 2020 (in billion barrels) Statista, https://www.statista.com/statistics/666593/australia-oil-reserves/ (last visited September 01, 2024)
Total proved oil reserves in Australia from 2010 to 2020 (in billion barrels) [Graph], BP, July 8, 2021. [Online]. Available: https://www.statista.com/statistics/666593/australia-oil-reserves/