HARDminute Factoid 15: Oil Imports & Exports

The HARDminute # 15
A Series of “Top Tens”
That Took Forever to Compile
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TOP TEN Countries
For Importing and Exporting Oil

Last post, I circulated the factoid about oil RESERVES. It is reproduced below. This post, I am showing who actually ships and receives oil.


Oil Imports PER DAY

USA imports 11.8 million barrels per day.
Japan brings in 5.3 million barrels.
China needs 2.9 million barrels per day.
Germany drinks in 2.5 million.
South Korea has an appetite for 2.1 million.
France takes in 2.0 million barrels.
Italy imports 1.7 million.
Spain imports 1.6 million barrels.
India’s imports are 1.5 barrels.
Taiwan takes in 1.0 million.

Oil Exports PER DAY

Saudi Arabia exports 8.73 million gallons per day.
Russia sends out 6.67 million.
Norway exports 2.91 million barrels.
Iran’s contribution is 2.55 million.
Venezuela exports 2.36 million.
United Arab Emirates exports 2.33 million.
Kuwait’s exports are at 2.20 million barrels per day.
Nigeria’s contribution to others’ uses is 2.19 million.
Mexico exports 1.80 million.
Algeria sends out 1.68 million gallons per day.

Imports and exports are based on 2004 figures and have certainly changed, but detailed data are difficult to collect. The relationships, however, are pretty consistent. In the US, we import more oil than the next three importers combined. Reserves are 2005 estimates.

To put this in perspective, a barrel contains 42 US gallons of oil. Originally there were 40 gallons to a barrel however, that was changed in the mid 19th century to give a little extra so consumers wouldn't feel "cheated". A little over 23 gallons of gasoline can be refined from a barrel of oil. Other products (jet fuel, lubricants, etc.) make up the rest.


Oil Reserves

1. Saudi Arabia has 264.3 billion barrels proven as of 2006
2. Canada can provide 178.8.
3. Iran has 132.5.
4. Iraq has 115.0.
5. Kuwait has 101.5 of its own, but also is a contracted refiner for others.
6. United Arab Emirates has 97.8.
7. Venezuela holds 79.7. Venezuela and Hugo Chavez own Citgo.
8. Russia checks in with 60.0.
9. Libya shows 39.1.
10. Nigeria has 35.9.


Please let me know if this is of interest to you.

I welcome your feedback!

HARD