2015 - OPEC

1 OPECA nnual Statistical BulletinOrganization of the Petroleum Exporting Countries2015 Notes: Totals may not add up due to independent OPEC flows of crude and refined oil (1,000 b/d)2014 Questions on dataAlthough comments are welcome, OPEC regrets that it is unable to answer all enquiries concerning the data in the queries: AdvertisingThe OPEC Annual Statistical Bulletin now accepts advertising. For details, please contact the Head, PR and Information Department at the following address:Organization of the Petroleum Exporting CountriesHelferstorferstrasse 17, A-1010 Vienna, AustriaTel: +43 1 211 12/0 Fax: +43 1 216 43 20 Advertising: PhotographsPage 5: Courtesy Zhang Jianshe. Pages 7, 13, 21, 31, 47, 65, 81, 95: Shutterstock. 2015 Organization of the Petroleum Exporting CountriesISSN 0475-0608 Director, Research DivisionOmar S Abdul-HamidProject LeaderHead, Data Services DepartmentAdedapo Odulaja Coordinator, Statistics TeamHossein HassaniStatistics Team Pantelis Christodoulides, Klaus St ger, Harvir Kalirai, Mouhamad Moudassir, Mohammad Sattar, Anna Gredinger, Ksenia GutmanCoordinator, IT Development Team Mohamed MekerbaIT Development TeamHannes Eichner, Zairul Arifin, Vedran HrgovcicEditorial TeamHead, Public Relations and Information DepartmentHasan HafidhEditorAlvino-Mario FantiniCoordinator.

2 Design and ProductionCarola BayerSenior Production AssistantDiana LavnickGraphic DesignerTara StarneggTeam for the preparation of the OPEC Annual Statistical BulletinOPEC Africa OPEC Middle EastOPEC Latin America 14,0815851,5982,2941,0021,97998911716025 08931033442015494161988121371,316 Iraq IR Iran KuwaitQatar Saudi Arabia UAE Venezuela EcuadorAlgeriaNigeriaAngolaLibya2015 Organization of the Petroleum Exporting CountriesOPECA nnual Statistical Bulletin50thEDITIONOPEC Annual Statistical Bulletin 2015 OPECH elferstorferstrasse 17, A-1010 Vienna, 17, A-1010 Vienna, Statistical BulletinOrganization of the Petroleum Exporting Countries201550thEDITION1 ContentsOPEC Annual Statistical Bulletin 2015 Foreword5 Key messages6 TablesPageSection 1: Summary7 Table Members facts and Members crude oil production allocations9 Section 2: Macro-economics13 Table Members Members GDP at current market Members values of Members values of petroleum Members values of account balances in OPEC average exchange rates for OPEC Members20 Section 3: Oil data: upstream21 Table proven crude oil reserves by rigs by completed in OPEC wells in OPEC and cumulative crude oil production in OPEC Members crude oil production by country oil supply and OPEC NGLs29 Section 4: Oil data.

3 Downstream31 Table capacity in OPEC Members by company and refinery capacity by refinery capacity in OPEC refinery throughput by of refined petroleum products in OPEC output of refined petroleum products by demand by main petroleum products in OPEC oil demand by oil demand by main petroleum product and region44 Section 5: Oil trade47 Table Members crude oil exports by Members petroleum products exports by crude oil exports by exports of petroleum products by exports of crude oil and petroleum products by imports of crude oil by imports of petroleum products by imports of crude oil and petroleum products by country62 Section 6: Oil transportation65 Table fleet development in OPEC tanker fleet by year of build and carrier fleet in OPEC LPG carrier fleet by size and combined carrier fleet by spot freight rates by vessel tanker spot freight tanker spot freight crude oil pipelines in OPEC petroleum product pipelines in OPEC Members782 ContentsOPEC Annual Statistical Bulletin 2015 Section 7: Oil Reference Basket (ORB) and corresponding spot components spot crude oil Brent and NYMEX WTI annual average of the 1st, 6th and 12th forward Reference Basket in nominal and real prices of petroleum products in major prices of petroleum products in OPEC barrel and its components in major consuming countries90 Section 8.

4 Natural gas proven natural gas reserves by gas production in OPEC marketed production of natural gas by natural gas exports by imports of natural gas by carrier fleet in OPEC LNG carrier fleet by size and gas pipelines in OPEC Members103 GraphsSection 2: Macro-economicsGraph :OPEC Members population 14 Graph :Population as a share of total OPEC14 Graph :OPEC Members GDP at current market prices15 Graph :GDP at current market prices as a share of total OPEC15 Graph :OPEC Members values of exports 16 Graph :Values of exports as a share of total OPEC16 Graph :OPEC Members values of petroleum exports 17 Graph :Values of petroleum exports as a share of total OPEC17 Graph :OPEC Members values of imports 18 Graph :Values of imports as a share of total OPEC18 Graph :Current account balances in total OPEC19 Graph :Current account balances in OPEC Members19 Graph :OPEC oil export revenues vs value of total exports 20 Section 3: Oil data: upstreamGraph :World proven crude oil reserves 24 Graph :OPEC Members proven crude oil reserves 24 Graph :World crude oil production 24 Graph :OPEC Members crude oil production 24 Section 4: Oil data: downstreamGraph :World refinery capacity43 Graph :World output of petroleum products 43 Graph :OPEC output of refined petroleum products 43 Graph :World oil demand 46 Graph :OPEC Members oil demand 46 Graph :World oil demand by main petroleum product46 Section 5: Oil tradeGraph :World crude oil exports by region 53 Graph.

5 OPEC Members crude oil exports 53 Graph :World interregional trade of crude oil54 Graph :OPEC Members petroleum products exports by destination56 Graph :Percentage share of OPEC crude oil exports by regions58 Graph :OPEC Members exports of crude and petroleum products58 Graph :OPEC Members exports of petroleum products 583 ContentsOPEC Annual Statistical Bulletin 2015 Graph :OPEC Members crude oil exports by destination60 Graph :OPEC flows of crude and refined oil 64 Section 6: Oil transportationGraph :World tanker fleet by year of build and categories 67 Graph :World tanker fleet by year of build and categories 67 Graph :Average spot freight rates by vessel category 70 Graph :Dirty tankers spot freight rates 71 Graph :Dirty tankers spot freight costs 71 Graph :Clean tankers spot freight rates 72 Graph :Clean tankers spot freight rates72 Section 7: Oil pricesGraph :OPEC Reference Basket82 Graph :Differentials of selected spot crude oil prices to OPEC Reference Basket (1)84 Graph :Differentials of selected spot crude oil prices to OPEC Reference Basket (2)84 Graph :Differentials of selected spot crude oil prices to OPEC Reference Basket (3)85 Graph :Differentials of selected spot crude oil prices to OPEC Reference Basket (4)85 Graph :OPEC Reference Basket in nominal and real terms 87 Graph :Spot petroleum product prices US Gulf88 Graph :Spot petroleum product prices Singapore88 Graph :Spot petroleum product prices Rotterdam88 Graph.

6 Composite barrel and its components in volume91 Graph :Composite barrel and its components in percentage92 Section 8: Natural gas dataGraph :World proven natural gas reserves 95 Graph :OPEC Members proven natural gas reserves95 Graph :World marketed production of natural gas 95 Graph :OPEC Members marketed production of natural gas 95 General notes107 Definitions108 Country groupings 109 Economic organizations 110 Abbreviations 110 Oil companies 111 Sources112 Conversion factors 112 MapMajor OPEC flows of crude and refined oil inside back coverDisclaimerThe data contained in the OPEC Annual Statistical Bulletin (the ASB ) is historical and obtained directly from OPEC Member Countries and third parties listed in the reasonable efforts have been made to ensure the accuracy of the ASB s content, the OPEC Secretariat makes no warranties or representations as to its accuracy, relevance or comprehensiveness, and assumes no liability or responsibil-ity for any inaccuracy, error or omission, or for any loss or damage arising in connection with or attributable to any action or decision taken as a result of using or relying on the information in the ASB.

7 The ASB is not intended as a benchmark or input data to a benchmark. Definition of terms, as well as names and boundaries on any maps, shall not be regarded as information contained in the ASB, unless copyrighted by a third party, may be used and/or reproduced for research, educational and other non-commercial purposes without the OPEC Secretariat s prior written permission provided that OPEC is fully acknowledged as the copyright holder. Written permission from the OPEC Secretariat is required for any com-mercial Annual Statistical Bulletin 2015 ForewordAbdalla Salem El-BadriSecretary GeneralI would like to present to you this Annual Statistical Bulletin (ASB) on the 50th anniversary of its publication. Any publication with such longevity is clearly one that is valuable; the oil industry as a whole recognizes and appreciates the contribution of the ASB.

8 Data is essential to our industry and data sharing key to market stability. For the decision-makers of today and planners of tomorrow, the necessity for timely and accurate data is unquestionably important. Data influences investment and shapes development, and ensures the world s energy needs continue to be met in the best way possible. OPEC s commitment to provide a wide range of detailed and well-researched data on the oil and gas industry is once again met in this year s publication, which has become a much-anticipated reference tool around the world. We sincerely hope that you will find this ASB both informative and useful. As always, the central focus of the ASB is on OPEC Member Countries Algeria, Angola, Ecuador, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.

9 More specifically, the ASB includes statistics on OPEC and non-OPEC country upstream and downstream oil developments, oil trade, transportation, prices including exports and imports, reserves, production, tanker fleets and pipelines, petroleum products and exploration. OPEC always realizing the importance of data has long tried to improve and expand its collection of data over the 55 years of the Organization s history. Its commitment to data transparency and market stability is evident in its active participation in the Joint Organizations Data Initiative (JODI) since its formation and in the regular organization of Annual Statistical Meetings, at which Member Countries come together to provide valuable consultation and input, a major end result of which is this publication.

10 In order to make this publication as accessible as possible, it is made available in both an electronic PDF file and an interactive version on the OPEC website, which allows the full download of data for non-commercial , I would like to thank all those involved in the creation of this document for their hard work, from the collaborative input of Member Countries to the unflagging dedication of staff at the Secretariat. It takes many people many months of commitment to make this document a Abdalla Salem El-Badri, OPEC Secretary General6 OPEC Annual Statistical Bulletin 2015 Key messagesThe OPEC Annual Statistical Bulletin (ASB) provides detailed and comprehensive time-series data on many different aspects of the global petroleum industry, including