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Top 10 National Oil Companies by production

by Matthew Scotland on May 14, 2009

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A Kuwait Oil Company oil rig on the border with Iraq. (Getty Images)

6. Petroleos de Venezuela (Venezuela)

With the largest amount of proven oil in South America at around 99.4 billion barrels, Venezuela’s state oil company, Petroleos de Venezuela (PDVSA) is one of the most successful NOCs in the world, ranking fourth – in front of Shell and BP – in the PIW top 50.

The country also claims that by including tar-like extra heavy crude oil found in the Orinico Belt, which has an estimated 235 billion barrels, Venezuela would have the world’s largest oil reserves. Regardless, it finds itself in sixth with 2.39 million bpd of oil produced, although President Hugo Chavez Frias will no doubt be looking to improve this in coming years.

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nidhi (Oct 14, 2009) India

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