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The data series for proved oil and gas reserves in this years Review does not necessarily meet the definitions, guidelines and practices used for determining proved reserves at company level, for instance, under accounting rules contained in the Statement of Recommended Practice. 'Accounting for Oil and Gas Exploration, Development, Production and Decommissioning Activities' (UK SORP) or as published by the US Securities and Exchange Commission nor does it necessarily represent BP's view of proved reserves by country. Rather the data series has been compiled using a combination of primary official sources and third-party data. Canadian proved reserves include an official estimate of 26.5 billion barrels for oil sands 'under active development'. Venezuelan reserves are taken from the OPEC Annual Statistical Bulletin, that noted in 2008 that the figure included proven reserves of the Magna Reserve Project in the Orinoco Belt, which amounted to 94,168mb.

Reserves include gas condensate and natural gas liquids (NGLs) as well as crude oil.

We have provided a detailed explanatory note on reserves clarifying current definitions and terminology.

R/P ratios represent the length of time that those remaining reserves would last if production were to continue at the previous year's rate. It is calculated by dividing remaining reserves at the end of the year by the production in that year.

Reserves-to-production (R/P) ratios are available by country and feature in the table of oil reserves. R/P ratios fror the region and the world are depicted in the chart above and the Energy charting tool.

There is a time series of crude oil reserves, which can be found in the Excel workbook. Data are measured in thousand million barrels. ...READ MORE